Private agencies reported that Monsoon could be weak this year. As per astrology, Monsoon will be 70-75%. This Monsoon is going to be historical and will impact inflation in India. It may become difficult for the government to control.
Considerable downtrend in Indian market may start anytime from next week. Market may drop down by more than 5%, by the end of month. Continue holding short position in indices or corresponding put options.
Today, it is the RBI policy. The outcome in context with interest rate is awaited. Day traders are advised to stay away from the market as major swing is possible in both directions. The market may behave bearish till 14.30 HRS. In the closing hour, recovery may be observed.
Our STBT in SBI @ 355 & AXIS BANK @ 825.