Where Is Nifty Headed? / Nifty volatility/ Bank nifty Target/ Nifty Technical level

 For the past couple months, the Nifty has been hovering between 18,000 to 18,800 . In terms of the stock market, the market is still in Bullish mode despite external factors threatening. In Technical terms, Nifty is being consolidated but the fact is that overall market trading volume is shrinking. Which signifies the market is being more alert due to uncertainty of the financial market.    

Macroeconomic conditions

The inflation rate has been declining for recent months 

The Dollar Index is getting soft land 

Falling of the Energy prices 

Covid fears step out across the world.

Above those factors are reasoning for volatility on the Financial market. The financial market analysts are expecting this volatility will continue until the end up to  2023. Now, the market awaits for  Q3 corporate results. Then the market might take a certain direction.  

Now the economic slowdown is becoming a primary issue, the IMF has projected that the world GDP growth rate will be around 3 percent. It is a very low rate when compared to previous year GDP of 6.2 percent. So, the world bank, IMF, and forefront Financial institution has estimated that In 2023, recession is inevitable. Therefore, the entire stock market could reflect the upcoming recession.  

If Nifty will trading above 18500 level at three consecutive days probably Nifty might touch at the new high, perhaps, it fails to sustain above 18000 level, we may expect further correction, the First target is 17,200 level.