India’s retail inflation unexpectedly jumped to a 14-month high of 6.2% in October, driven by soaring vegetable, fruit, and edible oil prices. This surge breaches the central bank’s target range and delays the possibility of interest rate cuts. Economists predict inflation will remain elevated for a few months before gradually easing towards the Reserve Bank of India’s target rate.
Tech view: Nifty forms Doji candle; a break below 23,500 likely to push index lower. How to trade on Monday
The 23,500-23,540 range serves as an immediate support zone for the index. A decisive break below 23,500 could lead to a further drop to the
November 14, 2024