A technical analyst, Nagaraj Shetti, believes that the Nifty index is likely to decline further in the near future. He points to the formation of a bearish reversal candle pattern, similar to a bearish evening star, on the daily chart. This pattern, combined with a gap-down opening, suggests that the short-term uptrend may be over.
RBI in wait-and-watch mode despite easing West Asia risks: Sanjay Malhotra
Despite easing West Asian tensions, the RBI remains cautious, with Governor Sanjay Malhotra emphasizing data dependency over pre-set interest rate paths. While the truce offers