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All eyes on Fed as we enter volatile September

ICICIdirect Research 30 Aug 2024 DISCLAIMER

Indian equities fared better as compared to their global peers as risk-on sentiment prevailed. Index gained 1.5% and recorded new highs along with Midcap and Small caps

What lies ahead: Nifty is entering September on a positive note and maintaining its higher high-low sequence. For the month we expect, Nifty to gradually head towards 25800, albeit episodes of volatility along the way cannot be ruled out. Key short-term support remains at 24700

Global cues: Global equities are in steady up trend and would continue to weigh on sentiments and provide direction amid expectations of rate cut in US

Breadth: Market breadth for the week was flat as some profit taking in Mid and small cap segment was visible at new highs.

Sectorally, IT, Pharma, Consumption are expected to outperform while Metals are poised with favourable risk-reward proposition.

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