With new weekly lifetime high closing of Nifty @9653, it could be a time to tread cautiously in view of the following upcoming events :
- 2nd Bimonthly RBI policy review meeting on 7th June
- GST implementation next month, which can impact growth negatively in the short term
- US Fed review meeting next month, which may increase the rates, in view of better than expected US job data
- Monsoon, which as on date is predicted to be favourable
It would be interesting to watch in case RBI reduces the interest rates in view of other three events, and if it does, market may continue to tread higher, else there might be some pause and wait and watch moments.