We saw the premium for the Nifty Futures coming back from discount parity towards being at a 35 points premium so that is again a healthy sign for the indices. So I believe that data points as well as the factors indicate that the 17200 or maybe 17160 to be precise could act as a good base for the index.
Monetary policy expectations impact stocks more than rate moves: RBI paper
Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy