NIFTY
We will divide the analysis into three parts:
1) Fundamental Analysis:
In terms of valuation, The whole market is looking fairly valued.
2) Macro Analysis:
The bank's rules, regulations and framework to provide loans to medium and large enterprises are strict. When banks think that the economy is going through hard times or may go through hard times, They become fearful to provide easy loans to medium and large enterprises, which tells that banks are doubtful about the economy and they don’t want to take the risk by providing easy loans to medium and large enterprises because they think that they will default.
3) Technical Analysis:
The proprietary R/T Model made by Ausfin Capital is giving a bearish outlook.