Technically speaking, Nifty looks poised to test its all-time highs at 26277.35 mark. Before we get into detail, here are key levels:
NIFTY (+89, 25638)
Sensex (+303, 84059)
Bank Nifty (+237, 57444)
# Well, sceptics may argue that Nifty’s gains in last 4-days are probably a little bit of more positive reaction...
# Our call of the day however suggests, the sentimental and fundamental and technical landscape favours the bulls at the moment.
# Here are key 6-positive catalysts:
1) Middle East geopolitical tensions off the front pages.
2) Oil prices depressed at $65.50 a barrel.
3) RBI positive bulletin acting as a tailwind.
4) Extremely positive Wall Street cues with the S&P 500 and the Nasdaq index flirting with their all-time-highs.
5) The White House has downplayed the urgency of upcoming tariff deadlines, easing investor concerns over a prolonged trade war.
In fact, as of writing, the US Commerce Secretary Howard Lutnick says the U.S. is nearing agreements with 10 other trading partners.
6) President Trump is likely to announce candidates for next Fed Chairman, potentially installing a "shadow" chair who could push for a more dovish policy stance.
# Long Story Short: Buy on dips theme shall prevail. Nifty’s immediate goalpost seen at its all-time-high at 26277.35 mark.
The gyan mantra is to make hay while the sun shines.
LotusFunds Super Traders! Predictable Times
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