India Nifty Tests 50-Day Average as Key Resistance Nears for Further Gains

5 articles · Updated · Bloomberg · May 22

India’s Nifty heads into Friday near its 50-day moving average, a technical level that could clear the way for further near-term gains if resistance breaks.
Mixed global cues are complicating that setup: Asian equities advanced, but oil rebounded after a three-day slide as uncertainty over US-Iran talks and Strait of Hormuz toll disputes clouded sentiment.
The rupee snapped its longest losing streak in a decade on Thursday, adding to a more constructive domestic backdrop for Indian assets.
Rate-sensitive sectors including automakers, banks and shadow lenders are in focus as expectations build around a possible rate hike, while bond traders await an RBI dividend payout to the government expected to be a record.

As Iran-US tensions threaten global oil, can India's rate hikes prevent an economic crisis at home?

With the rupee at a record low and oil prices soaring, is India's economy walking into a perfect storm?

Can India's temporary Russian oil deals shield it from a looming crisis in the Strait of Hormuz?