We have witnessed a sharp downfall in Nifty and Banknifty along with sectorial selling pressure amid the Iran-Israel war, although India's growth story has been robust and expected to rise continuously even amid global uncertainties. but may be lower than expected or projected , due to high inflation forcasting may be a part of lower GDP growth. India is a major crude importer , Hence volatility and up surge in Crudeoil prices expected to affect almost every corner of the economy, considering recent crises in LPG,,Crudeoil and restricted supply, will give rise to overall production cost and disruptions in production for manufacturing industries. Moreover, household budgets may rise across the country , which may decrease individual savings .We may see as cascading effect of the current global situation, which may take slight more time to make nullify overall effect upon indian economy. Eventually new investment may slower its pace or ...
RATIONALE: ON DAILY CHART STOCK HAS FORMED HIGHER - HIGH PATTERN WITH STRONG VOLUME BUILD UP , CROSSED PREVIOUS FEW SESSIONS AVG VOLUME , STOCK IS TRADING ALL TIME HIGH WHICH INDICATES FURTHER STENTHERN TOWRDS POSITIVE TREND , SUPPORTS BULLISH MOVE CONTIUATION , MORE OVER PITCHFORK BREAK OUT BY CANDLE SUGGEST S UPSIDE EXPECTED TO CONTINUE. HENCE TARGET PRICE 550/600 MAY BE ACHIEVED IN SHORTTERM HOLDING (1-2 MONTH EXPECTEDLY )
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