“The RBI can always reduce the pace of rate hikes from September onwards if inflation and growth momentum softens, but we think it is a risky strategy at this stage to be an outlier in delivering less than 50 bp rate hikes.”
The psychological mark of 22,000 holds intermediate support, followed by strong support of the 21,800-21,700 subzone. On the higher end, the 20-DEMA placed at 22,300,
MarketSmith suggests considering ITD Cementation, Neuland Laboratories, Arvind Smartspaces, Sharda Motor Industries, and Choice International as potential buys based on various financial and technical indicators.
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