In an interview with CNBC-TV18, Mark Galasiewski of Elliott Wave said the Nifty has been in a declining trend channel that shown up as a triple zigzag correction, separated by two bear market rallies. This, he said, was a sign that a reversal was on the cards.
Aditi Nayar, senior economist at ICRA believes the mid-quarter monetary policy review will not see overnight changes. A gradual reversal of the steps to address rupee's fall will be taken, she told CNBC-TV18.