The upcoming week will feature a series of speeches by Fed officials, including Fed Chair Jerome Powell, along with the release of US Retail Sales and Industrial Production data. Chinese GDP, fixed asset investment, and Retail Sales data are also expected to draw significant attention. With ongoing geopolitical tensions in the Middle East and fading prospects of another Fed rate hike, we anticipate that gold prices will remain well-supported in the short term.
Tech view: Sustenance of upmove in Nifty crucial for buying interest, resistance at 24,567. How to trade tomorrow
Nifty closed with a meaningful gain after several days. It formed a high wave type candle, hinting at an upward correction. Support is at 24,073-24,135,