Monday, most of the European markets raised in green after the unexpected rise in Home sales in US. US markets opened in green tonight.
Pfizer Inc. is buying rival drug maker Wyeth in a $68 billion deal that will increase its revenue by 50 percent, solidify its No. 1 rank in the troubled industry and transform it from a pure pharmaceutical company into a diversified health care giant.
RBI will be meeting on Tuesday for a quarterly review of the monetary policy. RBI is expected to announce rate cuts favourable for the banks and the housing sector, the market can see some rally as the interest rate-sensitive stocks would see some upside.
Indian markets may move upwards initially.
Nifty
Resistance is 2730-2789-2829
Support is 2661-2573-2519
On the EOD charts shown above it look vulnerable as charts formed right leaning Head-
Shoulder pattern which is bearish signal. On Friday NIFTY ended on neckline, if there is any
further down from neck like will spell disaster for the indices.
With Nikki rising in morning and RBI, positive US Cues lifts NIFTY up.
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