Hello reader, hope you’re doing well. The Nifty index maintains an optimistic outlook due to encouraging signals from global markets and the impressive performance of Reliance Industries. The positive sentiment is further reinforced by the anticipation of lower inflation expectations in the United States. The Nifty Auto index demonstrates its robustness by reaching a record high, highlighting its strength. However, the Bank Nifty and Nifty Metal indices experience a slight decline in anticipation of the release of US CPI data. Investors remain cautious about the Federal Reserve’s plans regarding interest rate hikes. Reliance Industries garners attention through its finance unit listing and retail buyback plans. The Nifty faces resistance within the range of 19525-19550, with a bearish sentiment emerging if it falls below the 19171 mark.
As always, risk management is key, and a proper system in place prevents one from losing out too much, in case of outlier events. Have a good trading day, and may the force be with you!
Disclaimer: this post is for educational purposes only, we are not SEBI registered analysts. Trades mentioned here are not trade recommendations. Equity Investments are subject to 100% market risk, please consult your financial advisor before investing.