The Atlanta Fed publishes what they refer to as the stick price consumer price index. It is described as:
"The Atlanta Fed's sticky price consumer price index (CPI)—a weighted basket of items that change price relatively slowly"
This metric does not look deflationary and is near its post financial crisis high. My gut feeling is that most consumer spending is more like this metric than the chain weighted CPI.
Nifty 50 has major support placed around the levels of 9,740-9,750, and if Nifty sustains below these levels, fresh selling pressure could drag index up to the level of 9,685. On the way up, the level of 9,850-9,860 may act as a stiff resistance level.capitalstars
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