RBI monetary policy review : Rohit Gadia, CapitalVia Global Research

Mr. Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd. post RBI policy announcement.

RBI announced its 3rd Bimonthly policy today, Repo Reverse Repo, CRR, SLR all were kept unchanged. Policy declared was at par with the D-street's expectation as a pause was expected in policy moves, RBI would likely wait for inflationary pressures to subside and for more clarity on when US interest rates will rise. thus no major movement was seen in the market.

Nifty Aug fut was trading at lower levels a bounce was seen post policy announcement. For further If Nifty Aug fut manages to cross levels of 8680 an upside movement can be expected. On lower side 8480 will act as a major support level breach of this level will slide the Nifty further down.

Source : Equity Bulls

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