“On the daily chart, the benchmark Nifty has formed a dark cloud cover formation, suggesting a bearish reversal. Besides, the index has fallen below the 200-DMA, which is again a bearish setup,” Rupak De, Senior Technical Analyst at LKP Securities, said.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction