Nifty did not show any breakout above 5370 or below 5330. It has closed in the middle and one can expect wild move once breaking this range.
Better than expect IIP data bring curtain down on expected rate cut on March 15 RBI meeting. Many in the market expect it to wait until after the federal budget, to be delivered on Friday, before it starts cutting interest rates after raising them 13 times through October. The RBI has another policy review set for April 17.