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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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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 new capaex expansion may take a cautious stance. We may see impact in corporate earnings, and margins may shrink for one or two quarters gradually before revive to current level.

NIFTY   SUPPORT LEVELS   FOR  THIS WEEK  

 22900-22950  , 22600 - 22650

NIFTY RESISTANCE LEVELS  FOR  THIS  WEEK 

23300 -23350 ,  23450-470 , 23600-23650

Rationale : Lower low price  pattern with strong bearish candle formation, although Nifty having close /trades  with near strong support  of 23100-90 ,  we may see signs of slight ease in selling pressure  as compare to last week . 

profit booking  on rised  may continue from certain level gradually in stocks and index. 

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