A small positive candle that is placed beside the long positive candle of the previous session indicates a range-bound movement in the market after a pullback rally. This also reflects a lack of selling interest in the last couple of sessions after a sharp reversal on the downside on August 19 and August 22, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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