Indian Stock Market Tips Today by Ripples Advisory – 1st August 2018
Nifty Made Record High Ahead Of RBI Monetary Policy
The Indian Benchmark Index Nifty closed at 11357 on Tuesday 31st July after making a record high of 11366. The Cash Market Benchmark Index Small Cap closed at 7466 after making a high of 7474. The Index rallied more than 500 points in 8 trading sessions after making a low of 6923 on 19th July.
The Reserve Bank of India's (RBI)'s Monetary Policy Committee (MPC) will meet on 31 July and 1 August 2018 for the third bi-monthly monetary policy statement for 2018-2019. The resolution of the MPC will be unveiled at 14:30 IST on 1 August 2018. RBI raised its benchmark policy repo rate by 0.25% to 6.25% in its second bi-monthly monetary policy for 2018-2019 on 6 June 2018 also the Federal Reserve's Federal Open Market Committee will embark on its two-day meeting on Tuesday, with the central bank expected to announce its decision during Wednesday, 1 August 2018.
Nifty is opening gap up by 20 points from previous day close of 11371 Currently, Nifty trading at 11391 as per SGX Nifty.
The US 10 Year T-Note is trading at 119.36. The Bond has broken its important low of 120.03 on 28th Feb 2018. The next support level is at 117.69 which is the low of Jan 2011. The US Dollar Index is trading at 94.40.
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