Last friday nifty lost close to 118 points intraday due to fears of a decline in global money flows if the United States, increases interest rates and due to Argentina’s second default in 13 years. The RBI’s monetary policy review on Tuesday could guide us the further direction and could give us clear cut view on the market direction. It should be noted that FIIs infuse over $26-billion so far in 2014; $6-billion in July alone but still USDINR trading below 4 month low.