What will determine Friday’s stock market action?

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On Thursday, the market declined for the third day in a row as traders awaited the conclusion of the next RBI policy meeting. The market was also hampered by the US Federal Reserve’s hawkish tone in its remarks.

According to Nagaraj Shetti of HDFC Securities, a respectable negative candle with a tiny upper shadow appeared on the daily chart, indicating a continuation of market weakness.

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