4 Aug, 2015 (9:33AM IST)
Indian markets are waiting for the RBI’s monetary policy today, Markets were hoping for a rat cut as the pro-business government had tried to take away some powers from the RBI Governor but now that move has fizzled out and economic experts have given their opinion that they don’t expect a rate cut in today’s RBI policy meeting.
That’s why Indian markets have turned negative in initial opening trading.
If Nifty fails to keep above 8538 then its headed for a negative session today. In that case, its next support levels will be 8,512 and 8,482. If this lower level is breached, then Nifty can head down to 8,456 quickly and finally to 8,300 in next few session.
Watch those levels and trade with the trend which seems negative today.
Good luck, enjoy the session.