NIFTY AND BANKNIFTY WEEKLY UPDATE
SUMMARY
DXY@104.6
USD/INRath
US-10Y@3.2%
US MKT HAS STARTED FACTORING A RECESSION
ON FRIDAY I HAD TOLD EVERYONE
THAT WATCHOUT FOR ECO DATA INFLATION CAME HIGHER SO FED WILL HAVE TO BE MORE AGGRESSIVE IN AN SCEANARIO
WERE JOB DATA WAS BAD AND UNEMPLOYEMENT CLAIMS ROSE
WHAT DOES IT MEAN
-it is an indicating of stagflation
-were fed is in raising interest rate mode
-and were instead of strong economic data
-economic indicators are showing reversal
-so in short rising rate +fall in employment +fall in growth- stagflation
what about the technical
-we had discussed this in prior
-if we close below 16380 we will see retest or most likely a breakdown of 15750-15800 zone
-if that happens then 15000 is a matter of time
PLEASE READ PREVIOUS POST AND CHANNEL UPDATES ON DAILY BASIS
LINK IN THE SIGNATURE BOX BELOW
DXY CHART:-
BANKNIFTY
waiting for a test or breakout
big trades will be lined up
DXY@104.6
USD/INRath
US-10Y@3.2%
US MKT HAS STARTED FACTORING A RECESSION
ON FRIDAY I HAD TOLD EVERYONE
THAT WATCHOUT FOR ECO DATA INFLATION CAME HIGHER SO FED WILL HAVE TO BE MORE AGGRESSIVE IN AN SCEANARIO
WERE JOB DATA WAS BAD AND UNEMPLOYEMENT CLAIMS ROSE
WHAT DOES IT MEAN
-it is an indicating of stagflation
-were fed is in raising interest rate mode
-and were instead of strong economic data
-economic indicators are showing reversal
-so in short rising rate +fall in employment +fall in growth- stagflation
what about the technical
-we had discussed this in prior
-if we close below 16380 we will see retest or most likely a breakdown of 15750-15800 zone
-if that happens then 15000 is a matter of time
PLEASE READ PREVIOUS POST AND CHANNEL UPDATES ON DAILY BASIS
LINK IN THE SIGNATURE BOX BELOW
DXY CHART:-
BANKNIFTY
waiting for a test or breakout
big trades will be lined up
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*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
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