Positive to gap up opening is expected at channel top and if at open volume buying will be there then 100 nifty points upswing in today’s session can not be ruled out but if stayed choppy at 50 points above last close then profit booking will be there and nifty will trade flat before closing today so wait watch and stay online for trading today .
In a surprise move, the Reserve Bank of India (RBI) on Monday eased the liquidity tightening measures it had initiated earlier by reducing the marginal standing facility (MSF) rate by a further 50 basis points (bps).
“On a review of evolving liquidity conditions and in continuation of this calibrated unwinding, it has been decided to reduce the MSF rate by a further 50 basis points from 9.5% to 9% with immediate effect,” the RBI circular read.
Following this, short-term rates and liquidity in the banking system are both set to ease further, providing much needed relief to smaller, wholesale-funded banks.
MSF rate is the rate at which scheduled banks borrow funds overnight from the RBI against approved government securities. This rate comes into play once the banks have exhausted their borrowing limit (which is currently set at 0.5% of their net demand and time liabilities, or NDTL) under normal repo auction or the liquidity adjustment facility route.
Nifty eod ended making hanging man at channel top .
Trade in Nifty futures as per these levels
Buy at / above: 6024 Targets: 6044 – 6061 – 6080-6099
Stoploss : 6005
Sell at / below: 6005 Targets: 5989 - 5970 – 5951 – 5931 – 5912
Stoploss : 6024
Stoploss : 6005
Sell at / below: 6005 Targets: 5989 - 5970 – 5951 – 5931 – 5912
Stoploss : 6024
Premium messages and trades of yesterday on charts
copper buy call
Natural gas buy call
Nifty sell and buy call
nifty prediction for 08 Oct 13 gap up open
