Can Nifty climb to a new all-time high after better-than-expected GDP of India?
Despite better-than-expected Q4 GDP of India, NSE Nifty extended its tepid movement for the second straight session
NSE Nifty extended its tepid movement for second straight session on Thursday despite better-than-expected GDP of India. On Wednesday, National Statistical Office (NSO) announced Q4 GDP of India at 6.1 per cent, which was around one per cent higher the expected GDP of 5.1 per cent during January to March 2023 quarter. However, the 50-stock index has managed to sustain above its immediate support of 18,460, its recent swing high levels. So, market experts are expecting that Nifty may bounce back strongly from its support levels and in that rally we may expect the Indian benchmark index to climb a new life-time high, breaching its current record high of 18,887.60.
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