On weekly chart, the index has formed a long bullish candle forming a higher high-low than the previous week and has closed above the previous week’s high, indicating positive bias.
Nifty formed a red candle on the daily chart on Friday, indicating weakness, but a green candle on the weekly scale confirmed last week’s bullish
Dinesh Kumar Khara emphasizes that the adoption of the repo rate as an external benchmark by banks will ensure quick transmission of policy rate changes
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