The RBI kept interest rates unchanged but increased inflation targets, causing markets to decline further. The Nifty fell 0.73% and the banking index was volatile after the announcement. Tinplate Company of India is in an uptrend, crossing its 50-day moving average, and analysts recommend a long position above Rs. 258 with a target of Rs. 274. Upcoming company results are scheduled for Thursday.

1. 06.12.2017
Market commentary
In today’s trade markets remained under selling pressure as fresh selling
escalated after an announcement of the RBI credit policy. Ajanta Pharma was the
biggest loser in the trade, shedding around 5% in last one hour of trade. Nifty
metal index continued to slide lower, ending 2% in red. RBI left the repo rate
unchanged at 6% but increased the Consumer Price Index inflation target. The
RBI, at its fifth Bi-Monthly Monetary Policy meet, increased the Consumer Price
Index inflation target for Oct-Mar to 4.3%-4.7% from 4.2%-4.6% earlier. The Nifty
Bank index was choppy after the RBI left the repo rate unchanged at 6% but
increased the Consumer Price Index inflation target.
Nifty Daily Chart
Nifty
R2 R1 Pivot S1 S2
10130 10087 10060 10017
9990

2. Stock to Watch for Thursday
Tinplate Company of India Ltd.
Daily Chart
Technical Analysis
The stock is moving in uptrend and has made high of 306.40 and corrected up to
the level of 247.40. Today it opened 250 and moved up and gained about 6% and
closed at 254.30. Today the stock has crossed its 50 day exponential moving
average and closed above it which is a very positive signal for the stock.
The stock is trading above all the short and long term moving average showing
the strong up trend.
Long position can be made above 258 and target will be 274 and stop loss can be
maintained below 236.50

3. Market Highlights
 The Indian equity benchmarks fell to their lowest level in over a month led
by losses in banking stocks after the Reserve Bank of India kept key rates
unchanged and maintained its neutral policy stance.
 The BSE Sensex fell 0.63% or 205 points to 32,597 and the NSE Nifty50
Index dropped 0.73% or 74 points to 10,044 level. The BSE MidCap Index
fell 0.9% and BSE SmallCap Index declined 0.66%.All sectoral indices on the
NSE, barring the Nifty IT Index, closed in the red.
 The RBI, at its fifth Bi-Monthly Monetary Policy meet, increased the
Consumer Price Index inflation target for Oct-Mar to 4.3%-4.7% from 4.2%-
4.6% earlier.
 Canara Bank is currently trading at Rs362, down by Rs11.3 or 3.03% from its
previous closing of Rs 373.3 on the BSE The scrip opened at Rs370 and has
touched a high and low of Rs373.4 and Rs361.15 respectively.
 Punjab National Bank is currently trading at Rs171.35, down by Rs4.65 or
2.64% from its previous closing of Rs176 on the BSE. The scrip opened at
Rs174 and has touched a high and low of Rs175.7 and Rs171.1 respectively.
 State Bank of India is currently trading at Rs312, down by Rs7.3 or 2.29%
from its previous closing of Rs319.3 on the BSE. The scrip opened at
Rs317.7 and has touched a high and low of Rs317.7 and Rs 311.45
respectively.
Upcoming Results
Result on
Thursday
Jetairways,Precwire,Xchanging,Ahlwest,Bpl,Manglamtimber,Venusrem.

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