The market has opened firm with the Nifty scaling 8800. There is a positive sentiment in the market after Reserve Bank of India decided to cut rates in its bi-monthly monetary policy review yesterday.
Also, there is another good news as International Monetary Fund has raised India’s growth forecast to 7.6 percent from 7.4 percent for 2016 and 2017.
Improvements in trade, policy actions and reforms have led to the rise in forecast. IMF retains global growth forecast for 2016 at 3.1 percent and for 2017 at 3.4 percent.
The international body has warned of economic stagnation on back of subdued global growth following weakness in the US as well as Brexit vote in Europe.
BUY APOLLO TYRE FUTURE ABOVE 227 TG 227.75, 228.75, 230.25 SL 225.70,
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