The repo rate now stands 50 basis points higher at 5.9%, with other rates going up by the same magnitude. An ET poll of economists and investors had pegged the rate increase at 50 bps. Retail inflation is hovering at a multi-year high, having touched 7% in August and likely to have accelerated further in September.
Tech View: Nifty charts hint at recovery from support levels. What should traders do on Thursday
The short-term trend remains weak. But, having placed near the cluster support of around 22,000 levels, one may expect an upside bounce from the lows
April 16, 2024