Nifty may trend down as market braces for a hawkish Monetary Policy Review

The Nifty appears set to trend down as the market braces for a hawkish Monetary Policy Review from the Reserve Bank of India (RBI). Geopolitical tension continues with high crude oil prices and an imminent trade war initiated by the USA. 

The Nifty has etched out three falling tops in succession though support is well above the index's 200-day moving average (200-DMA). The index hit a high of 10,929 on May 15. That was a falling top with respect to the all-time high of 11,170 in January. After bouncing from recent lows at the 10,420 level, the Nifty hit a high