The RBI announced the credit policy. The rates remained unchanged, the market expected a raise in rates which did not happen. The markets moved up sharply midday peaking to 8074 before correcting sharply to close at 7991.
Our call on Cipla got stopped before it continued its upward move. The trend in the stock is still upwardly biased but a stop is a stop.
Increasingly, the index looks weaker. We will focus on the nifty options to initiate some fresh trades. Maybe a neutral position will be better for the short term. Before we change our bias.
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