Tuesday, April 5, 2016

RBI rate cut fails to cheer market…

FUTURE :
“BUY UPL ABOVE 470 TGT 475/480”
“SELL UPL BELOW 460 TGT 455/450
DAILY CHART FOR UPL:
The Sensex and Nifty slipped after the central bank at its monetary policy review reduced the policy rate by 25 basis points to 6.5%. The Sensex ended with a loss of 516 points at 24,883. The BSE Sensex opened at 25,372 touched an intra-day high of 25,372 and low of 24,837.The Nifty closed with a loss of 156 points at 7,603. The Nifty opened at 7,736 hitting a high of 7,736 and low of 7,603. After being stuck in a trading range in the previous week, the Indian equity market fell sharply as RBI’s rate cut failed to cheer sentiment on Dalal Street. In its first monetary policy review for the financial year 2016-17, the Reserve Bank of India announced a 25bps reduction in the repo rate which was in line with market expectations.
TOP GAINERS: BPCL, HCLTech, PowerGrid, Lupin, HDFC, Dr.Reddy's, Hero MotoCorp ,Aurobindo Pharma 
TOP LOSERS: Adani Ports, ICICI Bank, SBI, Bharti Airtel, Tata Motors DVR and Bank of Baroda 

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