Nifty Bank IndexLong
07 June 2024 - BankNifty not as bullish as Nifty, who will be FM
Who will be the next finance minister would be something that Banks and Financial services sector would be keenly watching. For a stronger banking sector, we might need a tougher PM - someone who can make rational decisions.
Will people who did not contest Lok Sabha elections be given a financial ministry berth? I hope not, personally I think FM is more important to stock markets than PM and Banks are the heartbeat.
A stronger bank and a powerful central banking system will propel India to a powerful economy in a shorter time span. On the other hand, a weaker bank and ratifying middle class (of course with the non-considerate tax policies) will slow us down.
Technically the stance is still bullish on BankNifty, but we are yet to reclaim the tops.
Will people who did not contest Lok Sabha elections be given a financial ministry berth? I hope not, personally I think FM is more important to stock markets than PM and Banks are the heartbeat.
A stronger bank and a powerful central banking system will propel India to a powerful economy in a shorter time span. On the other hand, a weaker bank and ratifying middle class (of course with the non-considerate tax policies) will slow us down.
Technically the stance is still bullish on BankNifty, but we are yet to reclaim the tops.
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