NIFTYBANK: Old Guard, New Guidelines?
Nifty bank, has not recaptured the old glory, despite the NIFTY crawling back.
Still near the 50 K mark, though near 1500 points away.
Lots of expectations in change of FM and markets will have to remain focused on no change. It is not an individual it is the team that works.
Will Guidelines change matters more than change of Guard. No doubt there is sense of momentum attached to certain Guards.
Bulls continue to take home the fact that they are able to hold 49250 very well and it is matter of time before they assert themselves, while bears would be waiting for an opportunity. For now, bulls have an edge so long as they are within the channel drawn.
USD moves, US CPI, FOMC to drive, while rural demand and inflation or some of the challenges to address locally.
Supports 49350-49150-48950
Supply 49980-50250-50450
Still near the 50 K mark, though near 1500 points away.
Lots of expectations in change of FM and markets will have to remain focused on no change. It is not an individual it is the team that works.
Will Guidelines change matters more than change of Guard. No doubt there is sense of momentum attached to certain Guards.
Bulls continue to take home the fact that they are able to hold 49250 very well and it is matter of time before they assert themselves, while bears would be waiting for an opportunity. For now, bulls have an edge so long as they are within the channel drawn.
USD moves, US CPI, FOMC to drive, while rural demand and inflation or some of the challenges to address locally.
Supports 49350-49150-48950
Supply 49980-50250-50450
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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