Fundamentals/Basis:
Due to most uncertainties of the US related news including Trump Tariff wars, US shutdown vote, Russia Ukraine war ceasefire talks, US possible recession, most of the global economies were in downward trend including US,excepting china which is seeing correction /growth.
How India will deal with US tariffs is a wait and watch , which could come into effect starting April. With Ministers flying to US to negotiate and trying to find middle path, one can expect a reasonable middle ground with US tariffs, by increasing US supplies,reducing tariffs etc from the Indian govt. At this moment, Indian government might not go for a tit-for-tat approach , which will hurt its interests.
Technicals:
Most of the corrections had happened since the election of Trump, the Nifty had been on the decline since its highs of oct last year and is at lower than yearly lows.
Price of Gift Nifty gives an early indication of the Nifty 50 movement.
Price is moving in a channel ,shown in the rectangular box and has a minor breakout.
Trade Idea:
If the Price breaks out of 22600, can test 22720-780- and after a retrace to a max of 450 can bounce again to 22940-23080
If the price could not break or sustain 22600 ,probable to fall with the channel again and test 22280-320.
These higher and lower levels mentioned will be decision points for further trends for the rest of the year.
Disclaimer: Analysis expressed are my own personal analysis and views. Not a SEBI registered analyst. Plan and trade as per your analysis.
Due to most uncertainties of the US related news including Trump Tariff wars, US shutdown vote, Russia Ukraine war ceasefire talks, US possible recession, most of the global economies were in downward trend including US,excepting china which is seeing correction /growth.
How India will deal with US tariffs is a wait and watch , which could come into effect starting April. With Ministers flying to US to negotiate and trying to find middle path, one can expect a reasonable middle ground with US tariffs, by increasing US supplies,reducing tariffs etc from the Indian govt. At this moment, Indian government might not go for a tit-for-tat approach , which will hurt its interests.
Technicals:
Most of the corrections had happened since the election of Trump, the Nifty had been on the decline since its highs of oct last year and is at lower than yearly lows.
Price of Gift Nifty gives an early indication of the Nifty 50 movement.
Price is moving in a channel ,shown in the rectangular box and has a minor breakout.
Trade Idea:
If the Price breaks out of 22600, can test 22720-780- and after a retrace to a max of 450 can bounce again to 22940-23080
If the price could not break or sustain 22600 ,probable to fall with the channel again and test 22280-320.
These higher and lower levels mentioned will be decision points for further trends for the rest of the year.
Disclaimer: Analysis expressed are my own personal analysis and views. Not a SEBI registered analyst. Plan and trade as per your analysis.
Trade active
GIFT NIFTY has broken as per the above analysis and is in bullish mode.Also, it has broken the major resistance of the retrace down trend.
The major support for GIFT currently is 22800 and minor support around 22940 levels on closing basis.
Trade closed: target reached
Trade closing with targets of 1000+points at 23800 levels.New trades based on Trump tariff effect in the first /second week of April
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.