Day: February 5, 2021

RBI Policy Update

Maitri Parikh

RBI Left the Policy Unchanged

Economic Projections by RBI

The RBI has kept the rates unchanged, considering its goal of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

Projection for CPI inflation has been revised to 5.2% in Q4: 2020-21, 5.2% to 5.0% in H1:2021-22 and 4.3% in Q3: 2021-22.

Impact on Banks and Economy

This can be considered slightly positive news for banks and the economy, as the RBI didn’t increase the repo rate, with a view to infuse more liquidity in the market.

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Morning Market Insight Report – 5 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty rose 1.43%, with PSU Banks gaining 2.61% and Private Banks gaining 1.70%.

We expect intraday range could be 34,723-35,976 with sideways to negative momentum & broader range could be expected between 34,438 to 36,282 zone for this week.

Nifty Intraday Outlook

In Thursday’s trading session, Nifty closed higher, supported by gains in banking stocks, ahead of RBI policy, which is scheduled for today.

We expect intraday range could be 14,652-15,146 with sideways to negative momentum while broader range could be 14,487 to 15,299.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

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