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Market Watch: Markets expect RBI to maintain status quo by Geojit Financial Services Ltd
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Traders were in no mood to chase prices higher at open yesterday, leading to a shrp pull back, that stopped only after reaching our downside marker at 21879. While the bounce there of was not substantial, the close was well away from the marker, pointing to the trong presence of bargain huntes. Just that such interest gets weakened as prices rese. This could potentiallu lead to distribution, prompting us to expect 220000 to hold today and re attempt a break of 21870 region, which if successful, extended slippage to 21800-720 could be seen. Alternatively test of the same3 or a direct rise above 22000 could set the 22200-240/22450-550 move in motion
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