Global sell-off post US Federal Reserves rate hike another 75 bps has intensified. Not only stock markets but Crude and Gold are also sliding. Hyper Inflation caused initially by COVID19 and aggravated by Russia-Ukraine war is causing dent on Macros of global economy. India due to inherent captive market and investment friendly Government will be / is affected less but one fact stands that we are not decoupled from global economy. Long term scenario for India still remains pretty solid both at Macro and Micro levels. However, in the short terms we will be facing strong global headwinds for sure.
Major Supports for Nifty at this juncture: 17291, 17169 and 17017. Beyond 17017 bears take over causing more pain.
Major Resistances for Nifty at this juncture: 17429, 17590, 17713 and 17921. Above 17921 Bulls will be in total control. Currently Bulls seems to be in shock and are in pensive mood post FOMC press conference by Powell.
Major Supports for Nifty at this juncture: 17291, 17169 and 17017. Beyond 17017 bears take over causing more pain.
Major Resistances for Nifty at this juncture: 17429, 17590, 17713 and 17921. Above 17921 Bulls will be in total control. Currently Bulls seems to be in shock and are in pensive mood post FOMC press conference by Powell.
Happy Candles Investment