The three-day RBI FOMC meeting begins today, with expectations of a rate cut after two years. Given the tariff news from Trump, this event may not lead to significant volatility. As for the indices, Nifty and Bank Nifty are likely to open flat to positive, but a strong trend day is not anticipated. I'm not a big fan of technicals, but I've noticed that Nifty is close to the 50% Fibonacci retracement level (23830), so I expect a pullback from here on the daily time frame. Gold and silver are trading at all-time highs, and I expect the rupee to weaken further today.
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