TrendCalls Team stated in our last domestic weekly that Nifty movement will depend upon currency inflows & 24th verdict by supreme court, which has now been shifted by a week's time. The fund flows remained undeterred & kept up the strong momentum in markets. But the authorities are wakening up to these fast inflows of Dollars & are in the process of curbing them in some way or the other. They(Govenment) have multiple agencies & multiple ways of cooling these hot inflows, which may have an impact on the markets in near or very short term. If the agencies act negatively to the hot money which is coming in, Rupee will also get impacted & if they do not then Rupee will be on one way street i.e getting stronger & going to its real value. Volatility in Nifty will rise more, caution is advisable as swings will be wild. Bias would be on upside pertaining to the conditions mentioned above.
Views Given By TrendCalls Team
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