RBI Cuts Repo and Reverse Repo

RBI sent a strong signal to banks to reduce lending rates by cutting repo and reverse repo rates.US markets closed strongly yesterday as expected.Asian markets are a mixed lot again.SGX(Singapore) Nifty is surprisngly down 13 points.With all the positive news i was expecting a gap up open today.But the way Singapore nifty is trading is surprising.Nifty would be bullish only if it closes above 2765.It closed at 2650 yesterday.SGX nifty is trading at 2622.Expect a open around that level.