Fundamental:
With the rising COVID cases in India, lockdowns being imposed by some of the state government and expected to be imposed by others if situation does not improve. This resulted in contraction of The Index of Industrial Production (IIP) by 3.6 per cent for February 2021, mainly on account of a steep contraction in the manufacturing output. Meanwhile, India's retail inflation rose to a four-month high of 5.52 per cent in March as food prices soared. Banks raised concerns with RBI on asset quality after the second wave of COVID.
Technical: Head and shoulder type of pattern being formed and breakdown from H&S and retesting is observed. If COVID situation deteriorates further, nifty closing below 14300 may lead to lower levels of 13500.
Fresh investment should be avoided untill some clear trend is there.
With the rising COVID cases in India, lockdowns being imposed by some of the state government and expected to be imposed by others if situation does not improve. This resulted in contraction of The Index of Industrial Production (IIP) by 3.6 per cent for February 2021, mainly on account of a steep contraction in the manufacturing output. Meanwhile, India's retail inflation rose to a four-month high of 5.52 per cent in March as food prices soared. Banks raised concerns with RBI on asset quality after the second wave of COVID.
Technical: Head and shoulder type of pattern being formed and breakdown from H&S and retesting is observed. If COVID situation deteriorates further, nifty closing below 14300 may lead to lower levels of 13500.
Fresh investment should be avoided untill some clear trend is there.