The MPC maintained unchanged interest rates, as expected. The RBI governor's less hawkish tone acknowledged moderating inflation but highlighted uncertainty around the monsoon. The market had already factored in this policy, maintaining its bullish momentum. The governor's comment suggests a prolonged pause, pleasing the market. The focus now shifts to global markets, upcoming US data, and Fed policy. The RBI policy is likely a non-event for the market. Technically, Nifty is trying to head towards its all-time high of 18888, where 18660 will be immediate support; below this, we can expect profit booking, where 18450 and 18180 will be the next support levels said Santosh Meena, Head of Research, Swastika Investmart.Read more:
