NIFTYBANK: Eastern Rise, Western Cut!
Where are we now, is always an interesting question that at any point of time we put to contextually.
BOJ rises rates, markets jump yesterday. Come US markets, FED pauses, but markets take as hint to September Cut. FED does what it does best, did nothing new.
Recall Markets expected 6 cuts this year almost around 8-10 months back, we are yet to see one.
Glamours banking results have not produced any UC moves, example is PNB, while bad results have been hammered.
Manufacturing data comes lower, INFY GST notice, clarity on the Indexation, so many tick boxes.
The enclosed Graph is bi-monthly, posted the evening star.
Current price action is still in motion so far bearish doji.
Bulls need a further move up, (Candle ends next week).
OR bears need a close below the low of the previous candle.
That clearly sums up 51200-52200 leave couple of points on either side. Crude jumps back and that is not a threat any time soon.
Fiscal Deficit improvement is other bright spot for the bulls.
Support 51300-51100-50950
Supply 51800-52000-52150
BOJ rises rates, markets jump yesterday. Come US markets, FED pauses, but markets take as hint to September Cut. FED does what it does best, did nothing new.
Recall Markets expected 6 cuts this year almost around 8-10 months back, we are yet to see one.
Glamours banking results have not produced any UC moves, example is PNB, while bad results have been hammered.
Manufacturing data comes lower, INFY GST notice, clarity on the Indexation, so many tick boxes.
The enclosed Graph is bi-monthly, posted the evening star.
Current price action is still in motion so far bearish doji.
Bulls need a further move up, (Candle ends next week).
OR bears need a close below the low of the previous candle.
That clearly sums up 51200-52200 leave couple of points on either side. Crude jumps back and that is not a threat any time soon.
Fiscal Deficit improvement is other bright spot for the bulls.
Support 51300-51100-50950
Supply 51800-52000-52150
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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