BANKNIFTY INDEX FUTURES forum
BANKNIFTY1! Support and Resistance Levels: Identify recent highs and lows to determine where the price might encounter resistance or find support. These are crucial for predicting potential reversals or breakouts.
Trendlines: Draw trendlines to visualize the current trend direction. Trendlines can help you spot trend continuation or reversal patterns.
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BANKNIFTY1! - This week in India, several important economic events are scheduled that could impact BankNifty and Nifty:1. **Monday, August 12, 2024**:
- **Industrial Production YoY**: The year-over-year industrial production data will be released, with the previous figure at 5.9%[1].
- **Inflation Rate YoY**: The inflation rate for the year will be announced, with the previous rate at 5.08%[1].
- **Manufacturing Production YoY**: Manufacturing production data will also be released, with the previous figure at 4.6%[1].
2. **Wednesday, August 14, 2024**:
- **WPI (Wholesale Price Index) Inflation YoY**: This includes the WPI Food Index, WPI Fuel, and WPI Manufacturing data[1].
3. **Thursday, August 15, 2024**:
- **Balance of Trade**: Trade balance figures will be released, with previous data showing a trade deficit of $21 billion[1].
These events are significant as they provide insights into the economic health of India, influencing market sentiment and potential policy responses.
Citations:
[1] tradingeconomics.com/india/calendar
[2] moneycontrol.com/economic-calendar
[3] in.investing.com/economic-calendar/
[4] www2.deloitte.com/us/en/insights/economy/asia-pacific/india-economic-outlook.html
[5] conferencealerts.co.in/india/economics
[6] zerodha.com/markets/calendar/
[7] pib.gov.in/PressReleasePage.aspx?PRID=2034973
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