WPI inflation data leads to profit booking in markets

For the August month,Wholesale Price Index or WPI inflation data came higher at 6.10% compared to 5.79% for the previous month. This led to some profit booking in markets as hopes of rate cut in RBI monetary policy on September 20 vanished.

Outlook for Nifty for the coming week

In the past week,nifty staged significant upmove on hopes from newly appointed RBI Governor Raghuram Rajan to uplift the sinking Indian economy and imminent diesel price hike to levels of 5650 after testing lows around 5330 on Syria concerns.   Nifty has almost achieved the target which was placed …