RBI Monetary Policy by Mr. Mustafa Nadeem, CEO, Epic Research.
It's a much expected and welcoming decision from the RBI. The street was discounting the same and the industry and sectors were looking forward to it. Amid lower inflation and lower interest rate scenario globally; this move will certainly attract much liquidity for the economy. We are already seeing good numbers on FII fronts while this move will make sure the objective of growth is fulfilled.
Over the short term, we believe this could trigger a short term correction. Currently, the market was discounting the rate cut and also on the hope of a decisive mandate in upcoming LS2019. Hence investors and traders should be aware that the trend is intact and on the upside. Any dips in this trend of 3-5% are good and should be utilized. We remain bullish on this trend.