NIFTY: Double Engine!
It is rare to find this pattern, for that matter in the last one month the Candles that we see are once in a lifetime kind off.
The fade off story continues in the open, the double engulfing pattern is powerful one and sends the warning signs for any more move higher than what we have seen already.
Crude prices remain higher, USDINR higher in controlled environment. This week would be vital and we end the first half of the year.
Not much in data front today in Global Markets save some sentiment from Europe.
The half year would close with some of inflation data from various countries from Canda and PPI from US, which markets would not care much.
USDINDEX continue to move at higher range of 105.80+ and break past 106.00 is what is in store, big hurdle is around the 106.50.
The PIP graph shows the break of near-term price channel and thus action is towards the south may be towards the 23200 while we stay below the 23550-600 area.
Supports 23420-23380-2330
Supply 23550-23580-23620
The fade off story continues in the open, the double engulfing pattern is powerful one and sends the warning signs for any more move higher than what we have seen already.
Crude prices remain higher, USDINR higher in controlled environment. This week would be vital and we end the first half of the year.
Not much in data front today in Global Markets save some sentiment from Europe.
The half year would close with some of inflation data from various countries from Canda and PPI from US, which markets would not care much.
USDINDEX continue to move at higher range of 105.80+ and break past 106.00 is what is in store, big hurdle is around the 106.50.
The PIP graph shows the break of near-term price channel and thus action is towards the south may be towards the 23200 while we stay below the 23550-600 area.
Supports 23420-23380-2330
Supply 23550-23580-23620
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