32350 Major support / resistance for Banknifty to be broken
This chart illustrates the movement of bank nifty
32350 will be the area of support which will be required to short the market further and this can be easily broken down if the market conditions do not become better.
Inflation
High Dollar Index
Cheaper Rupee / Depreciation in rupee value
Increasing crude oil prices
Increasing Commodity prices
Lower unemployment rate
LIC IPO
These will be some of the factors that need to be corrected fundamentally in order to have another bull cycle.
There needs to be great earning plus corporate profits to curb the rising inflation.
32350 will be the area of support which will be required to short the market further and this can be easily broken down if the market conditions do not become better.
Inflation
High Dollar Index
Cheaper Rupee / Depreciation in rupee value
Increasing crude oil prices
Increasing Commodity prices
Lower unemployment rate
LIC IPO
These will be some of the factors that need to be corrected fundamentally in order to have another bull cycle.
There needs to be great earning plus corporate profits to curb the rising inflation.