Investors Likely To Wait For RBI Roadmap before Investing 0 1163

Pre Market Updates: Wednesday October 3, 2018
Nifty levels
  • Rupee had ended at second lowest close ever.
  • Crude oil prices touched a multi-year high.
  • Crude oil is the biggest import item for India.
  • Rise in crude price has been impacting inflation as well as the country’s current account, which is also increasing.
  • This, along with a rising interest rate scenario in the US because of a growing economy, is leading to the weakness in the rupee, which in turn is prompting foreign funds to take money out of India.
  • Traders feel Wednesday’s market could be very volatility
  • Avoid temptation; wait for RBI roadmap before investing.
  • Today Nifty likely to trade in the range of 11040 and 10880

Nifty50 Technical Analysis:  Nifty50 formed a bullish candle on daily charts.

Put Call Ratio

  • Nifty PCR at 1.41 versus 1.33.
  • Nifty Bank PCR at 1.08 versus 0.88.
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