Tech View: Nifty’s breakout above 23,400 signals strong bullish momentum, reversing last month’s bearish trend. Analysts recommend a buy-on-dips strategy, with key resistance at 23,800 and immediate support at 23,300. Market reaction post-budget will determine further direction.
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,