Feedback on RBI monetary policy announcement - Mr. Rohit Gadia, Founder & CEO, CapitalVia Global Research Limited

"RBI in its fifth bimonthly monetary policy review kept all the key rates unchanged, CRR at 4%, Repo Rate at 8% while Reverse repo rate at 7%. As the RBI policy declared was at par with the expectation of the market participants no major impact was observed. Slight volatility was seen at the time of announcement which later on recovered. Currently market is trading at Day low and further downside movement can be seen if support level of 8540 is breached. We can see a rate cut in its next policy review on 3rd February 2015. Governor also added that he will not wait even for the policy review meeting if he found all the factors under a comfortable situation, he can go for rate cut any time in next year."

Source : Equity Bulls

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