Credit policy announcements will dominate today's proceedings in the bourses. Though a rise in repo and reverse repo rates and tightening of liquidity has already been factored in by the markets, yet the degree of tinkering and indications of the road ahead will be keenly observed by the market participants. If there is no worse than expected announcements in the credit policy today and corporate results keep in line with expectations, we can expect markets to gradually rally from here till the budget.
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