Market has discounted 25 bps rate hike: Deven Choksey

In an interview with CNBC-TV18, Deven Choksey, MD, KR Choksey Shares and Securities gave his readings and outlook about the markets. He also spoke about the expected market movement on the lines of RBI's monetary policy to be announced on May 3.

He said, "The monetary policy to a certain extent is a known element for the market. As long as the 25 bps rate effect is coming in, the market has discounted monetary policy. However, if the rate increase is 50 bps then in such situation market may look little bit negative." Below is the verbatim transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video. Q: What is it looking like between now and the monetary policy on Tuesday? What kind of a range or movement are you expecting from the Nifty? A: The monetary policy to a certain extent is a known element for the market. As long as the 25 bps rate effect is coming in, the market has discounted monetary policy. So I don