Diwali outlook: Nifty likely to consolidate between 50, 100-day EMAs, says Sudeep Shah of SBI Securities

During Diwali, Indian markets often experience bullish sentiment due to festive optimism, positive investor mood, and strong liquidity. This year, however, market performance is shaped by global economic uncertainty, geopolitical risks (particularly in the Middle East), fluctuating crude oil prices, and domestic concerns like inflation and interest rate outlooks, says Sudeep Shah.