Savings and Speculation - 22/7 issue
22/7 is another way of expressing the Pi, though the International Pi Day is celebrated on 14.3
Tomorrow is the budget day; economic report will come one day before. Markets have no time to look into this.
Chief concerns remain, the speculation, the move of savings to equity, that is eroding the banks deposit ratio in turn raises the cost of funds.
The NIM of some of the banks are near 3% and Union Bank of India Chief clearly mentioned that challenge to keep above the 3% mark.
The cause is the effect, the effect is the cause.
China fades few points on the Prime Rate, that shows unwillingness to take the big stick, markets are not Enthusians'd.
Equity markets give back the gains, dollar keeps the tone steady near the 200 DMA, but it is the rupee which is slowly giving its way.
The smaller time frames swiftly push instead of inverse HnS the HnS pattern, one has to wait and see how it unfolds. This pattern is both continuation as well as reversal pattern.
Not a place where aggressively bearish tones relative to some other sectors, hence the beta can be a tad at par or below in the fall and above if any rise.
Support 52130-51930-51780
Supply 52500-52750-53000
Tomorrow is the budget day; economic report will come one day before. Markets have no time to look into this.
Chief concerns remain, the speculation, the move of savings to equity, that is eroding the banks deposit ratio in turn raises the cost of funds.
The NIM of some of the banks are near 3% and Union Bank of India Chief clearly mentioned that challenge to keep above the 3% mark.
The cause is the effect, the effect is the cause.
China fades few points on the Prime Rate, that shows unwillingness to take the big stick, markets are not Enthusians'd.
Equity markets give back the gains, dollar keeps the tone steady near the 200 DMA, but it is the rupee which is slowly giving its way.
The smaller time frames swiftly push instead of inverse HnS the HnS pattern, one has to wait and see how it unfolds. This pattern is both continuation as well as reversal pattern.
Not a place where aggressively bearish tones relative to some other sectors, hence the beta can be a tad at par or below in the fall and above if any rise.
Support 52130-51930-51780
Supply 52500-52750-53000
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