A RESET BY MODIJI?

A RESET BY MODIJI?

By CKN Staff

August 18, 2025

It needed something different to pull or push this market out of the range bound mood. Maybe Modiji provided it by way of his Independence day speech. That one read more like a Budget speech, considering the number of reforms that was talked about! However, the announcement made on the new GST plans can be considered a structural reform and that is what the market may concentrate on. This can be big. We may have to wait a bit to get the details but tax cuts are always welcome news for the market.
Now to see whether the gap up persists. So, the first support for the day is the gap top at 24900 levels and after that at the gap low which would be near 24700 levels.
So far so good, as the prices are trading up after the gap up. Intraday turn time is around 11 am and then again at about 1.00 pm. Maybe the market would move up till the first time turn and then show us some action.

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