Before RBI Credit Policy Chart was giving beautiful Bearish Harami Pattern at 10:55 Am and after policy Nifty became down beautifully. At 10:55 Am it was @ 6122.2, at 11:00 Am it was @ 6111.50 and after in just 3 minutes at 11:03 Am, when policy came, it became hit the low @ 6000.35 Am and at 11:40 Am it hi new day's low @ 5932.85. Means before Policy chart was giving signal for downside and after policy it reacted accordingly and Nifty became down 178.65 Points. means to say analysis is not just based on charts and all, it also includes fundamental factors and how the factors can be discounted earlier.
That was a great interpretation.
ReplyDeleteRBI said retail inflation rate and whole sale inflation rate were high but it may expected to go down if vegetable rates reduced however if Food and Fuel inflation not reduce than there will be chance to change in policy.
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