Sensex trapped in 1,000-pt range ahead of RBI policy; strategy this week

Weekly Market Outlook: The BSE Sensex may trade in the 80,600 - 82,300 range this week, the BSE benchmark could surge to 83,770 levels in June; suggests technical chart.

The Bombay Stock Exchange (BSE) Sensex consolidated in a tight range last week, broadly between 81,000 - 82,000, as bulls and bears fought an intense battle amid the BSE and National Stock Exchange (NSE) monthly futures & options expiries.  This week, the market will react to Q4 Gross Domestic Production (GDP) numbers announced on Friday after market hours, and the upcoming Reserve Bank of India (RBI) monetary policy outcome on June 06.  According to a Business Standard poll, the six-member monetary policy committee (MPC) of the RBI is expected to cut the repo rate by 25 basis points