NIFTYBANK: Grace or the Fall!

The fall from the top, near the large bearish candle, coming on the heels of evening star is completely out of syllabus for the bulls.

This happening on one of the healthy index is another one to note. What ails this that moves in range extremes is another story which we narrate.

In Daily we have bullish engulfing pattern and that lends some support, but the broader market looks heavy and calling for correction. The issue is, the more it is delayed the more it is denied and can lead to substantial price or time or both.

The rate cuts if any have not been good to the equity markets empirically, they all have been the result of impending recession.

Crude prices are suggesting the same.

Most of the governments depend on growth inflation and their own spending, if both inflation and growth get subdued, there is no way but to depend on taxes for their financing and that is double edged sword.

The picture is flipped read our NIFTY story and the bulls and bears both are at par to suggest. Not big up move not big down move.

Supports 51150-50950-800

Supply 51750-51900-52000