Good ups and down swing came today in index prices just because of the Credit Policy although there is no change in the in Repo Rate 6.25, Reverse Repo Rate is same at 5.75 for the day Nifty recovered from the low of 8732 and closed positive at 8796. All the down side was covered by Nifty today itself. But a pressure can be seen on day chart where prices are just consolidating from last five days. We expect positive move from nifty in coming days too.
Bank Nifty Outlook
Good news after currency demonetisation is, limit from bank withdraw will be finish from 13 March and one can withdraw as much as he or she wants after 13th March, on other hand we expect banks should lower the interest rate now. Talking for Bank Nifty prices dipped to 20141 and closed green at 20360. We are still positive for bank nifty to give some more upside in coming days.
Nifty Day Performance