While the Nifty has moved higher, it is now stuck in a range between the 17,480-17,750 levels. Further directional cues are likely to emerge on a move beyond this range.

Traders and investors across the globe are waiting for the Federal Reserve Chairman Jerome Powell at Jackson Hole. Good news for banking Stocks - Bank credit growth in India accelerated to 14.2 percent in the quarter ended June 2022 from 6 percent in the same period of the previous year, RBI data showed on Thursday. Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Thursday.

The Nifty has moved higher and broken out of its recent trading range. Further upsides are likely once the immediate resistance of 17,717 is taken out. Weakness could emerge if the support of 17,637 is broken.

Fed Chair Powell is due to make a speech at 10 a.m. ET of USA time (7:30 PM IST) on Friday at the Jackson Hole symposium. China stepped up stimulus with a further 1 trillion yuan ($146 billion) of measures. Nifty remained in a very small range through the day and could not breach the high of the previous day. Once that level i.e., 17,626 is breached, more upsides could be in store in this up move.

The Nifty has bounced back from the lows. Further upsides are likely once the immediate resistance of 17,624 is taken out. Weakness could emerge if the support of 17,499 is broken.

Natural-gas prices traded at a 14-year high as a European energy crisis loom. U.S. new home sales plunged to the lowest level in more than six years. The S&P Global U.S. flash PMI at a 25-month low, while the services sector PMI at a 27-month low. In our market action was seen more in the broader markets. This and much more in our Daily Morning Podcast.

The Nifty has bounced back from the lows. Further upsides are likely once the immediate resistance of 17,589 is taken out. Weakness could emerge if the support of 17,345 is broken.

Worst daily drop in two months for US stocks. Chinese Yuan to a 23-month low. Nifty seems to have begun a short-term correction.

The Nifty has moved lower today. Further downsides are likely once the immediate support of 17,544 is broken.

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