NIFTY Analysis Mar Week 3 and beyondNote:
Most of the below Basis is given in my GIFT idea dated on same date.
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 is moving in a small channel ,shown in the rectangular box.
Trade Idea :
If the Price breaks out of 22600, can test 22780-810 and after a retrace to a max of 520 can bounce again to 22940-23080
If the price could not break or sustain 22600 ,probable to fall with the channel again and test 22280-230.
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.
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