India Markets Today: Uptrend, or Range Bound before RBI Meet

1 August 2017 (8:35 AM IST)

The Reserve Bank of India will declare its short term monetary policy and interest rate decision tomorrow. Indian markets are expecting a rate cut from the central bank after low inflation and negative economic reports.

Nifty and Bank Nifty have been rallying on these hopes.

Today, the trend could turn slow paced or range bound, if big traders decide to wait till tomorrow for any big move. Or, following the positive global cues, major India indexes continue with their uptrend.

Here are Nifty levels for intra day trading:

Nifty Pivot is at 10,059 for today’s session. Above this mark, resistance levels will come near 10,103- 10,128- 10,171. If, for any reason, Nifty trades below the pivot, then the index¬† will find support near 10,034- 9,991 or 9,965 level.

Watch how Nifty trades near these levels and trade accordingly.

Good luck, enjoy the session!

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