NIFTYBANK: Wick and Trick!
Not much to glean from the market that moves little, convey nothing after the V shape.
Left to interpret, the psychological 50K mark is the only line in the sand.
Bigger Frames 49300-50300 is what it rules. Holiday on Monday, Banking as a pack underperforming either locally or globally despite the fall in US yields and lower inflation expectations is a cause for worry.
Yesterday the upper Wick is just a marginal 7 points, while the body shape relatively is larger compared to last three days. It means nothing when placed over a larger picture.
Either a smaller time frame flag or the slightly larger Triangle (part of the Harmani pattern).
Range and Dull markets are always throwing surprise, markets look tired to take either direction and hence any move would be sharp and quick.
Yields soften in US, our own WPI due later in the day, Monday holiday are some of the considerations to keep in mind.
BOJ
For the day once again 49700-50300 violation of to push some smaller storm in the making.
With broader index too showing signs of fatigue, expect week-end holiday led profit taking to unfold.
Left to interpret, the psychological 50K mark is the only line in the sand.
Bigger Frames 49300-50300 is what it rules. Holiday on Monday, Banking as a pack underperforming either locally or globally despite the fall in US yields and lower inflation expectations is a cause for worry.
Yesterday the upper Wick is just a marginal 7 points, while the body shape relatively is larger compared to last three days. It means nothing when placed over a larger picture.
Either a smaller time frame flag or the slightly larger Triangle (part of the Harmani pattern).
Range and Dull markets are always throwing surprise, markets look tired to take either direction and hence any move would be sharp and quick.
Yields soften in US, our own WPI due later in the day, Monday holiday are some of the considerations to keep in mind.
BOJ
For the day once again 49700-50300 violation of to push some smaller storm in the making.
With broader index too showing signs of fatigue, expect week-end holiday led profit taking to unfold.
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