Traders were discussing why markets were going up, anyone know the true reason. Well I will explain this with all the facts that I have, but let me first of all clear that market is now in uptrend and so is nifty future. Here are the reasons:
1. Inflation in Control: As per latest inflation numbers, we conclude that CPI inflation has came to govt. Comfort zone i.e. below 8%.
2. Europe Improving: European countries have seen improvement in GDP data, inflation and unemployment. Analysts are no more bearish as they were in Q2 (second quarter).
3. Earnings inline: Q3 earning was in line to the market expectation and there was no negative surprise.
4. Pause in Interest rate Hike: After inflation numbers were released, RBI came with comment “We may start lowering interest rates”. Nifty future bounced sharply after this announcement.
Nifty future target in coming session will be 5600 level; on closing above this level next target comes at 5750 level.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
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