Yesterday, the Nifty broke out. It finally conquered the resistance levels of 18,600 to 18,700 to close significantly higher. This morning, the SGX Nifty is pretty flat. The US markets too had had a mixed session. While Dow Jones was up 0.3 percent, we did see profit taking in NASDAQ. NASDAQ was down 1.3 percent. But the Russell 2000, a smallcap index, saw a rally of 1.8 percent. So the broadening of the US market rally continued and that is a bit of a positive.But we've got such a big cue, we've got the RBI monetary policy and that decision will be known in around two hours from now.So the market could take a bit of a wait-and-watch approach before deciding its next move.So that's why the SGX Nifty is on the flatter side.In terms of the other big notable cues, everyone's watching out for whether we can go back to our all-time-high levels.The all-time high level on the Nifty was 18,888.7 hit on December 1, following which markets went into a bit of a corrective zone.

Broadcast on:

08 Jun 2023