Market moved up smartly yesterday surprising market participants. Credit policy announcements today will be keenly followed by traders. Expectation is that a minor hike of around 25 bps in repo and reverse repo will be announced. Also the expectation is that we are nearing the end of the liquidity tightening cycle. Any disappointment in the policy announcements could trigger a short term reaction. Apart from that market seems well poised to break the all time high in the next couple of months.
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