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Conversely, if Nifty crosses and sustains above 24,350, it could gain buying momentum, pushing the index towards the 24,500- 24,750 levels. The weekly RSI is moving downward and is positioned below its reference line, indicating a negative bias.
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The bean counters are back in control with a new chancellor who wants to change the rules without rocking the boat.
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While the topline performance of companies such as Dabur, HUL and ITC was impacted by the moderation of consumer demand - especially in urban India, it was not so in case of others like Varun Beverages, Godrej Consumer Products (India business), Colgate Palmolive (India), Pidilite and Zomato.
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