Mr. Mustafa Nadeem, CEO, Epic Research Pvt. Ltd. post monthly monetary policy announcement.

The RBI policy was no action at all and it was not even expected in the market as well.  It was as muted as it was expected to be with undertone of the Governor was looking at various aspects as RBI was accommodative  as it was.  There were two important points to be looked at was domestic factor such as Inflation which is being closely monitored as Last number was a surprise for RBI while secondary was the global scenario which is being crucially watched by RBI like FOMC meet and interest rate decision. With That we also point out that Rajan will do or not do the second term shall fizzle out soon as there is always someone better around the corner.  For now market is likely to be in a range between 8400 to 8200 in near term while buy on dips remains the strategy until and unless trend changes