Unsustainable path?

١١ يوليوPowell comes back and gives that the mandate of Central Bank is not just about inflation control. It has dual mandate of Jobs.

While he is trying to manage the waves ahead of the election year, the truth remains that is the mandate, nothing new. One can recall his comments on unemployment rate to move higher to bring the needle of inflation lower. Once cancels the other or both can stay together.

As for as the path is concerned it is about fiscal, nothing is sacrosanct for US stand alone, look at any country the increase in monetary base, that is evident.

That brings the question where we are now. For us the growth still robust, it can self-fund. While there can be short term hurdles the big picture is clear.

The PIP graph is of earlier period, just to demonstrate how this one can propel down from the peak despite the evidence of larger support aka the larger candle.

Now, if we assume our understanding about short term NIFTY is down, either this can move neutral, and some other index moves lower. Auto and Metals looks that way, while FMCG and Pharma looks higher (will they cancel out, the answer is no).

Interesting to see how pan, the bounce from yesterday low has some window to offer the larger line of support is the red line that is closer to 52000. The big support area is 51200 that is like 48200 now.

Support 52000-51800-51650

Supply 52380-52550-52700