Analysts said the recent price action suggests the index is preparing for a downward trend. 17,700 and 17,500 will be key supports for the index incoming days, whereas any upside will be dependent upon a decisive break of the 18,000 level, analysts said.
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This strength is underpinned by robust domestic demand, a sustained capex cycle, and relatively limited exposure to global shocks compared to developed markets.
December 9, 2024