This Thursday morning, Nifty may face modest bearish pressure due to hawkish signals from the Fed's May FOMC meeting minutes, where policymakers expressed concerns about inflation and indicated potential further tightening of monetary policy. This has diminished hopes for a September rate cut, contributing to market anxiety amid record FPI outflows and a spike in India VIX above 21, signaling heightened volatility. With major supports at 22153 and a trading range expected between 22000-23000, the strategy is to stay nimble. Preferred trades include selling Nifty and Bank Nifty at CMP with specific stop and target levels. Bullish opportunities exist in PI Industries, Lupin, and Reliance Industries, while Patel Engineering is recommended as a buy at CMP 65 for an intermonth momentum play.
Comments
Post a Comment