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 ...
VIEW POSITIVE - SIDE WAYS : SPOT NIFTY (23618.75) ( BUY AT DIP FOR SHORT TERM) NIFTY likey to form inverted Head and Shoulder pattern , which is a positive indication , consideing Retracment and Resistence level Nifty may face hurdle near 23700-23800, As per pattern suggetion, we may see some profit booking from that levels towards ,Hence Nifty Support level of 22700-22600 may play a crucial role to pull back nifty futher towards again 23650 mark , in up comming trading sessions expectedly. CLICK FOR DISCLAIMER