NIFTY ABOVE 8,700 AHEAD OF RBI POLICY

Sensex ended with a gain of 377 points at 28,243. It opened at 27,997, touched an intra-day high of 28,273 and low of 27,920.The Nifty closed with a gain of 127 points at 8,738. It opened at 8,666, hit a intraday high of 8,745 and low of 8,635. The Indian stock market ended with handsome gains ahead of the RBI policy review tomorrow. Indices extended their winning streak for  the second consecutive trading session today amid positive global cues. Technically, Indian Stock Market is still in negative zone. Now market is near strong support of 8700 levels. Closing below those levels would force market to see a sharp downfall. Traders should still hold short positions as of now.If levels of  8700 is breached for Nifty then Next target would be 8620-8580-8500 for Nifty and. For now, trade is to go short at every positive rally. on the other side If Nifty breaches resistance levels of 8825 levels whereas a sharp positive rally would be seen if Nifty.

MARKET EYEING RBI POLICY

The major domestic event tomorrow is the Reserve Bank of India's (RBI) fourth bi-monthly monetary policy meeting scheduled on Tuesday, 4 October 2016. The RBI after the third bi-monthly monetary policy on 9 August 2016, decided to keep the policy repo rate unchanged at 6.5%. Consequently, the reverse repo rate remained unchanged at 6%. RBI also kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4%.

TOP GAINERS:  Zee, Eicher Motors, Maruti Suzuki, Hero MotoCorp, Power Grid

TOP LOSERS:  TCS, Bharti Infratel and Bosch