RBI MPC Meeting: For those waiting for a rate cut, there may not be immediate good news. It is likely that the MPC is likely to continue a pause mode till the first quarter of the next financial year to take a relook at the rate approach.
RBI MPC meeting: In the short term, Bank Nifty may encounter volatility; a breakout above 47,200 could propel the index towards 48,000. On the downside, support is positioned at 46,800.
The RBI has given a strongly positive signal on growth, which augurs well for attracting foreign investments. However, strong growth coupled with growing upside bias in food inflation, will keep the MPC on its toes until it achieves the inflation target of 4 percent on a durable basis