NIFTY Prediction
Nifty had a day of ups and downs in trading today. It began with a drop and faced volatility early on. But in the later part, it broke out of a range, leading to gains of around 150 points by the end. Looking forward, it faces a hurdle between 22,600 to 22,700 levels, while support is seen between 22,500 to 22,400 levels.
BANK NIFTY Prediction
BankNifty index showed considerable bullish momentum by surpassing the initial barrier at 48,300. This resurgence indicates a return by the bulls. Currently, the index is indicating a buying trend, with support levels identified at 48,000-47,900 and a potential upward movement towards 49,000 to 50,000.
CONCLUSION
GDP vs. consumption gap is quite big in Indian market, which gives uncomfortable feelings to me. But market is not responding accordingly. Results are indicating but market is still absorbing and giving positive movements. HUL has given clear indications for low consumption. Amount wise may be high, but quantity wise has gone down, which is troublesome.
Now, inflation is on the upper side, USD has gained around 36-40% against INR in past decade. This gives impact accordingly.
Anyways, market is giving indications for another 100 points for Nifty. Watch for second half of the day.
Indian Currency
Indian Rupee may trade in between 83.00 to 83.70 per USD.
Stock Prediction
STOCK | Good Above | Weak Below |
AMBUJACEM | 644 | 637 |
ASTRAL | 2025 | 2002 |
HDFCBANK | 1521 | 1502 |
SHRIRAMFIN | 2475 | 2450 |
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