Levels to watch out I’ve been long on the market around the 960 mark and plan to hold for the long term, expecting it to eventually surpass previous highs in the coming months.
The RBI’s recent decision to cut interest rates for the first time in 5 years signals a move to stimulate economic activity. It seems they’ve waited too long, though, and it may have been a bit late.
Interest rate cuts are typically aimed at driving economic growth, especially during periods of slow growth or potential recession. While such moves are often positive for stocks in the short term—due to the stimulation of the economy, cheaper borrowing costs, and more investment in riskier assets—there’s still uncertainty about where the markets will head, especially as we may be on the brink of a major economic slowdown.
At the moment, I am short on Nifty and cautious about adding long positions to Nifty 50 stocks. I’m building my portfolio gradually rather than going all in at this point.
As for IndusInd, it has undergone a solid correction, making it a good opportunity to accumulate at these levels. The market could potentially dip further, reaching levels around 789 or 545, making it a good time to build positions.
