The hourly momentum indicator triggered a positive crossover and is also showing divergence indicating that the momentum on the downside is weakening and the index is likely to start a fresh leg of up move in the next few trading sessions.
Will RBI announce steep rate hikes? Nomura sees up to 50 bps increase by Dec, dismisses 125 bps hike fears
Nomura expects the RBI to pursue a limited tightening cycle, with a possible 50 bps rate hike by December, as food and energy pressures rise