NIFTYBANK: "Rebuilding Trust"
World Economic Forum 2024 begins today, and the message is "Rebuilding Trust".
In a world of conflict be it territory or the resources or the immigration, trust is the catch word.
Banking symbolises trust and thus the rebuilding of trust.
From Technical perspective, the price action is one of rebuilding the recent gains from 44500 to 48500 in the form of consolidation.
US inflation is done and dusted, the different voices from FED members is bound to be an attempt to moderate the expectations than the direction to the path. For now, not in Jan, come March is the expectation.
Supply side shocks remain concern as the RED SEA conflict on a back of the calculations lead 10 day delay in shipments. While one can fear the inflation, Japan Interest rates move below zero, while China remains source of deflation. Commodities are the one's that would give early signals.
For the day rise of IT is negative to this Index in relative terms. Despite this the near term is 47200-48200 range. A direct break and close outside of this range aids next move. Bias to the upside thought.
Intra day 47550 holds for a rise.
In a world of conflict be it territory or the resources or the immigration, trust is the catch word.
Banking symbolises trust and thus the rebuilding of trust.
From Technical perspective, the price action is one of rebuilding the recent gains from 44500 to 48500 in the form of consolidation.
US inflation is done and dusted, the different voices from FED members is bound to be an attempt to moderate the expectations than the direction to the path. For now, not in Jan, come March is the expectation.
Supply side shocks remain concern as the RED SEA conflict on a back of the calculations lead 10 day delay in shipments. While one can fear the inflation, Japan Interest rates move below zero, while China remains source of deflation. Commodities are the one's that would give early signals.
For the day rise of IT is negative to this Index in relative terms. Despite this the near term is 47200-48200 range. A direct break and close outside of this range aids next move. Bias to the upside thought.
Intra day 47550 holds for a rise.
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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