Nifty Auto Faces Global Economic Data Test: Key Insights for NSE and Sensex
Nifty Auto's Rally Under Scrutiny
As markets prepare for Monday's trading session, investors are keenly observing whether the Nifty can sustain its momentum following a significant breakthrough from a rounding bottom pattern.
Market Expectations
This technical advancement indicates the Nifty 50 could aim for the 25,500 mark short-term, with chances of further progression towards 26,000-26,250, should it hold above this crucial threshold.
- Investors await macroeconomic data to gauge market direction.
- Key indicators include GDP, inflation, and forex rates.
- The upcoming data will play a significant role in shaping expectations.
According to Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd, understanding these factors will be essential for strategizing in the current volatile market landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.