🐻if falls from current level, can see a short term down trend in the market(may see 14100-14000 levels & long trgt 13750)🐻
🔰if take support @ current level can see 14300-450 levels in short term🔰
🔥budget is the major upcoming event🔥
Has market discounted the budget ❓
or budget ride possible ❓
🔰kotak bank published postive result.but it fell down🔰
⚠reliance still falling after the postive result ⚠ Y ??
Did you notice something 🙏🤷♂️
JOE BIDEN officially became the president of US.🏛️
Following this FII's started selling !📉
Y❓ Did anybody notice it❓
🍁just look into the previous days.there was no proper direction in that country.That means, there was no president officially.Therefore the US economy was under performing...
No president,no corporate actions,no stimulus etc...these are some important factors of an emerging economy. Absence of any these things would have serious impacts.
Do you understand my points.(u can ask me if u have any doubt)🍁
In the absence of the president, US economy was underperforming.⚠
♦️So FII's dumped money to the Indian economy.Because India is an emerging country.♦️
But what about US now ??
🔰They have a WHITE HOUSE (president)🔰
🤼♂️So the American economy will regain strength.So FII's would reduce money dumping into Indian market. This is one of the reasons for this profit booking.
May be,it is the main cause for this profit booking.🤗
Y kotak fell / Y banks fell??🔶
♦️The RBI report said that the gross ratio of bad loans could rise sharply by September 2021. ... The RBI said in the report that the ratio of gross bank NPAs (GNPA) could rise from 7.5 per cent in September 2020 to 14.8 per cent by September 2021 in a “severe stress scenario”.♦️
- BIG NEGATIVE for banks
-Bank nifty chart is added to get a proper idea(check related idea's).-
- THANK U GUYS
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