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NIFTY (23151) Continue to trade under pressure with possible slight ease of selling pressure following important Support level in Index

   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 ...
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VIEW : BUY BHARATFORGE (1483) TARGET PRICE 1600 /1680+ APPROX PERIOD (10-30 DAYS )

 

#bharatforge


RATIONALE:  

STOCK HAS BEEN  IN UPSIDE MOVE WITH GREEN CANDLE  CLOSING CONTINUOUSLY SINCE FEW TRADING SESSION  ON DAILY CHART . MORE OVER  GOOD VOLUME BULD-UP HAVE SEEN  , STOCK TRADING WITH NEW LIFETME HIGH  ON CLOSING BASIS , WHICH IS A  POSITIVE SIGN TOWARDS POSITIVE TREND CONTINUATION , HENCE EXPECTED TARGET PRICE IN THE STOCK (BHARAT FORGE)   1600/1680+ MAY BE SEEN IN COMMING 15-20 DAYS TRADING SESSIONS APPROXIMATELY


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