The index needs a push above 18,100 for a rally to truly blossom and once this happens, it will be a one-way ride to 18,600-18,900. There could be a lot of choppiness between 17,900 and 17,600.It is better to have a longer holding period and smaller position size and wait for that moment when Nifty50 could gap up and stay elevated for a prolonged period,” Shah said.
RBI: Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity
The unexpected move is also seen bringing down yields on short-term government bonds, as the three securities that the government has chosen to buy back