Nifty Outlook:
The
Reserve Bank of India (RBI) kept the repo rate—its key lending
rate—unchanged at 6.25 percent on Thursday, forecast robust a 7.4 growth
in 2017-18 aided by waning effects of demonetisation, although
inflation risks remain in the medium term. The RBI hinted at a looming
inflation threat over the next 6-12 months, obliquely leaving the door
ajar for an interest rate hike in 2017-18. For 2017-18, inflation is
projected to average 4.5 per cent in the first half and 5 per cent in
the second half.
Bank Nifty Outlook:
At
higher reverse repo, the central bank would suck cash from the system
to stymie demand and cool prices. It will also encourage banks to park
excess funds with the RBI that will fetch higher returns. Banks are
awash with funds as millions have deposited outlawed old Rs 500 and Rs
1000 notes between November 8 and December 30, 2016. The overnight
call-money rates—the rate at which banks lend to each other to address
daily liquidity shortages—normally remains within the LAF. Last year,
RBI announced its intent to progressively reduce the LAF from 100 basis
points to 25 basis points, based on an expert panel’s recommendations.
Nifty Trends
|
| R1 | 9300 |
| R2 | 9380 |
| S1 | 9220 |
| S2 | 9170 |
|
|
Technical Outlook:
Top Gainers
|
| TATASTEEL | 503.40 |
| ZEEL | 553.15 |
| BAJAJAUTO | 2807.00 |
| AMBUJACEM | 242.65 |
| ULTRACEMO | 4140.90 |
Top Losers
|
| HINDALCO | 193.85 |
| ITC | 274.00 |
| SBIN | 292.25 |
| ICICIBANK | 280.20 |
| COALINDIA | 286.35 |
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