Bank Nifty Prediction
The worst is over in USA Mkt with inflation at 9.1% as now crude has cooled down in June month. Probably bottom reached now.
Clear indecisiveness in the markets. It happens when the markets trade in a tight range either near an intermediate top or bottom. There are a few indicators that lead you ahead. Low volumes, abnormal moves, narrow breadth, fast sector rotation, etc.
Markets work on money flow and potential returns. When inflation numbers are so high with lower dispensible cash in hand, then it would lead to lower growth triggering a shift in money flow. The same is happening across the globe.
Nifty. The range has broken but data formation suggests a range with unwinding in shorts as well as longs. We expect a down day followed by up move with some volatility.
Resistance at 16050 and 16100. Support at 15800.
Bank Nifty Prediction
The Index was resilient so far but broke 35000. This opens downside till 34600 on Bank Nifty. Should underperform. Resistance at 35200.
Sell on rise in today volatile day. Mkt may recover as the worst news is good news for mkt that worst is over.
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