We have just concluded august expiry on cautious note and analyst are looking for GDP data will will be released yesterday. Most economists have estimated growth would fall below 5.3 per cent. GDP growth in the quarter ended March was 5.3 per cent.
Services sector and Agriculture production will be watched very closely as manufacturing is under severe pressure due to various factor some of are domestic and global factors are also responsible to a great extend.
It needs to be seen that what steps Government and RBI find it appropriate in order to get Indian economy again on growth trajectory. Fiscal management and Reforms are seen as key trigger but on both the front results are some how below expectation.
It is widely expected that we might downgraded by rating agency such as S&P and Moody’s on account of lack of action on policy and political front.
Broader indices would be under pressure and Banks and Reality may attract selling in tomorrow’s trade. 5250 and 5180 are key level for NIFTY to watch out for.