Heated sentiment in Indian markets due to following 2 news;-
1- 75 Basis points CRR cut by RBI.
2- Good increase of Jan IIP at 6.8% vs 1.8% in Dec.
Cooling down exercise through slipping from higher levels and Nifty is hovering around intermediate term trend decider 5340. As profit booking on the back of positive news today therefore firstly sustaining beyond 5340 should be watched for next moves confimations.
1- 75 Basis points CRR cut by RBI.
2- Good increase of Jan IIP at 6.8% vs 1.8% in Dec.
Cooling down exercise through slipping from higher levels and Nifty is hovering around intermediate term trend decider 5340. As profit booking on the back of positive news today therefore firstly sustaining beyond 5340 should be watched for next moves confimations.