Economists predict that Indian consumer spending during this year’s festival season will be slightly better than last year, but it is unlikely to significantly boost the country’s already fast-growing economy. Despite expectations of 6.3% growth this fiscal year and next, the survey data suggests that a Reserve Bank of India interest rate cut is still far off. While consumer spending in the current quarter is expected to provide some lift, the overall growth outlook for the year remains unchanged.
Tech view: Move above 24,700 likely to signal upside in Nifty. How to trade tomorrow
A small negative candle was formed on the daily chart at the new swing lows of 24,341 with minor upper and lower shadows. Technically, this