NIFTY Index Chart Analysis
MARKETS REACT TO GLOBAL MOVES
As anticipated in our analysis, Nifty has demonstrated remarkable structural resilience since October 2023, with corrections lasting no more than two weeks and pullbacks limited to around 5 per cent. True to this pattern, the index recently corrected by 5 per cent between July 29 and August 9. However, following this correction, Nifty has rebounded as improving US economic data has eased recession fears. Market participants are now anticipating a rate cut in the US, and signs of potential progress in the Middle East ceasefire talks have further bolstered the sentiment.
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