Going forward, we expect December to be another important month ahead of key events like RBI Monetary Policy, FOMC Meet and state elections in Gujarat. Considering the current inflationary environment. we expect the RBI to maintain status quo on repo rates, despite subdued macro data. The central bank's commentary on the future outlook of interest rates will hold significance. Further, the outcome of state elections in Gujarat (on December 18) would be another key trigger, which would dictate the near-term market trend. While the odds are more or less in favour of a BJP victory, an unfavourable outcome could dampen the market sentiments, which is already trading at above average valuation. Selective buy-on-dips is the preferred strategy at the current juncture.