6 June 2017: The market is expected to give opportunities for fresh buying of stocks. The two big things, though in the long run, not of much importance, are expected to bring some corrections in the Indian stock market.
1. RBI's monetary policy review
The monetary policy committee headed by RBI governor Urjit Patel began the meeting today. The outcome is expected to be released tomorrow afternoon. The market is expecting the rate cut, but the experts are saying that the RBI is unlikely to cut the key interest rate. RBI might wait for another bimonthly monetary policy review to gauge the impact of GST roll out on inflation before taking the decision on the key rates. In that scenario, the market is expected to see some profit bookings and give an opportunity for fresh buys. This impact will not last for long and market is expected to turn bullish again.
2. UK Election Result:
News like what Trump says, who wins in France, which rocket does North Korea launch are immaterial to the Indian economy and its stock market. This news can bring small changes and give some opportunities to buy in a bullish market. UK election result is expected on 08 June 2017 and could have little impact on the market on 08th and 09th June. Those who have missed the bullish run these days can use this opportunity to buy.
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