[ad_1]
The markets were trading higher after the country’s central bank hiked a key policy rate for the third time to tackle persistently high inflation in Asia’s third-largest economy.
“With inflation expected to remain above the upper tolerance threshold in Q2 and Q3 of the current financial year, the MPC stressed that sustained high inflation could destabilise inflation expectations and harm growth in the medium term,” RBI Governor Shaktikanta Das said.
Osho Krishan, Senior Analyst – Technical & Derivative Research, Angel One Ltd said, ” The rate hike was in line with the market expectations and the upside momentum is likely to continue. Nifty has been trading in a narrow range and is expected to hit 17,800 levels once it crosses the 17,500 mark.”
Looking for stock ideas for your short-term portfolio? Here are the top 5 technical stock picks Osho Kishan is betting on:
[ad_2]
Source link