Wed, Oct 18, 2023 11:16 AM
Orient Cement shares jump 9% as promoter CK Birla taps Adani for stake sale
A Flip by Shubhangi Gupta
Nifty on Monday ended 33 points lower to form an Inside Bar pattern on the daily chart with the India VIX recording a surge of over 13%.“We need to wait and watch, till the high (22,589) or low (22,409) is taken out for further direction on Nifty. Support for the Nifty is now seen at 22,350 and 22,200-250 levels. On the higher side, the immediate resistance zone for Nifty is at 22,600.
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It looks like the Federal Reserve's visions of cutting interest rates were a bit premature. Inflation is still high, and it doesn't seem like there's going to be an early expiration date on high interest rates.Investors, shoppers, and others are settling in for what might be an extended stay, and the market's high-flying performance that reached an all-time high earlier this year.
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High inflation and a disappointing report on economic growth — followed by a sudden drop in stocks late last month — made for a familiar economic combination.These conditions were hallmarks of the 1970s when inflation ran high, leading the Federal Reserve to hike interest rates. The central bank’s measures to tame inflation drove up borrowing costs for real estate developers.
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