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 ...
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.
click : Disclaimer /Disclosure
SEBI Regi. Research Analyst (INH000009685) BSE enlistment No. 5568
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