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Nifty : Where are My Roasted Peanuts ?! Bring it on...Hi Guys, If roasted peanuts are not your favorite snack, Get samosa n chai.. relax for the day. I guess Nifty is going to range for the day and the direction of Nifty will be decided based on RBI outcome. This time we have Monetary Policy Committe ( 6-member panel) discussing what to do with Interest rate n whats best for Economy. Actually, when Urjit patel (Deputy Governor @ RBI in 2014) proposed 5 member panel, at that time RaghuRamRajan (R3) held the top post. The suggestion was 3 members from RBI & 2 members nominated by RBI Governor, it was almost autonomous as there is no intervention from Centre. R3 did what's really good and needed for the economy during his tenure, many times he refused to cut rates ( Awesome Courage, to defy Center's request n to do what's Best for Economy ). So the central Govt. came up with plan and proposed 3 members should be nominated by Govt. so that they can intervene RBI policy decisions ( Bad for autonomous institution like RBI ). Frankly speaking I'm frustrated , annoyed also bcos Central Govt. didn't even try to retain R3. You won't get Economists like R3 who served as Chief Economist at IMF & had contradictory view on Global economy when everyone said world economy is good (2008 crisis). I don't underestimate Urjit & other deputy governors but Raghuram Rajan is real Rockstar Banker. Coming to analysis, I'm not sure why I always try to contradict the market or other expert views ( Kinda R3 effect ? :P ), till RBI meet is over market will range in our zone, it opened right in Bull vs Bear (fight arena ) let them fight and someone will win, we will take that direction. But, I will watch keenly for bearish price reversal confirmation in the zone and love to short Nifty. Probably, a rate cut can send Nifty to volatile mood,thats why I'm suggesting, Grab roasted peanuts or samosa chai & watch Bull Bear ( B vs B fight ) till 11 am... oh wait, new Monetary Policy Committee meetings outcome will be known by 2.30pm only... Cancel that Peanut,Better Order Biryani... Eat & Sleep...
NSE:NIFTYShort
by InsiderB
11