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Mohit Gaba - Mohit Gaba is a Technical Analyst & a Trader. He graduated from H.R. College of Commerce & Economics. After working with his father within the capital markets he did his MBA from S. P. Jain Centre of Management Singapore

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Expect upward reaction ahead of RBI policy: Mohit Gaba

Technical Analyst, Mohit Gaba

Nifty (5699.10): The Nifty opened gap down and then traded in a narrow range for the entire session on Thursday. I expected an upward reaction Thursday however we did not get one.

The Nifty has had a steady fall for the last 2 weeks and we have dropped more than 200 points in the last 4 days, given today is a Friday and the RBI rate policy is on Monday we might see a bit of an upward reaction on Friday. Technically the down move continues and there is no sign of strength.

More from Mohit Gaba

13 Jun : Market trend remains weak for long term: Mohit Gaba
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11 Jun : Wait for definitive direction in market: Gaba
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06 Jun : Nifty to head upwards before sliding down: Mohit Gaba
04 Jun : Remain short unless Nifty breaches 6010: Gaba
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About Him

Mohit Gaba is a Technical Analyst & a Trader. He graduated from H.R. College of Commerce & Economics. After working with his father within the capital markets he did his MBA from S. P. Jain Centre of Management Singapore. He then worked first as a relationship manager at Citibank N.A (Dubai) briefly, after moving to ES Bankers Dubai Pvt. Ltd. where he was a portfolio manager. He came back to India to rejoin his father and during the last two years has cleared the IFTA exam and now is a Certified Financial Technician. He is also a technical guest on CNBC Awaaz.

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