Great Rotation
The rotation continues to play, rarely we see IT, Bank joining hands.
If IT led profiting unfolds, Banks take control and in the end, we have robust NIFTY on the ascendent. It looks 25K is what the ideal area that market wants to target.
Truncated week, and then comes the budget week.
Lots of drama and data over the weekend, our own inflation comes higher but who cares, banks lead the rally.
China data comes softer, while USD bounces, teasing around the long term or the mean reversion moving average. USDJPY stabilises.
Important data that one should watch is the Canadian inflation, while US retail sales also another one, but may not move the markets much.
Reasonably calm markets, dollar gaining ground, but looks adhoc unless it captures that 104.70 handle, else 103.80-104.80 range. 103.80 is do or do area for it. A Break there more damage.
Back to our markets, nothing much save a profit taking move that can unfold, tom is holiday to note.
Very short frames evening star, squeezing the bands and over bought the upward sloping line is the support in case we see a fall. The gap up is one area that may potentially get filled.
Supports 24530-24480-24430
Supply 24630-24680-24710
If IT led profiting unfolds, Banks take control and in the end, we have robust NIFTY on the ascendent. It looks 25K is what the ideal area that market wants to target.
Truncated week, and then comes the budget week.
Lots of drama and data over the weekend, our own inflation comes higher but who cares, banks lead the rally.
China data comes softer, while USD bounces, teasing around the long term or the mean reversion moving average. USDJPY stabilises.
Important data that one should watch is the Canadian inflation, while US retail sales also another one, but may not move the markets much.
Reasonably calm markets, dollar gaining ground, but looks adhoc unless it captures that 104.70 handle, else 103.80-104.80 range. 103.80 is do or do area for it. A Break there more damage.
Back to our markets, nothing much save a profit taking move that can unfold, tom is holiday to note.
Very short frames evening star, squeezing the bands and over bought the upward sloping line is the support in case we see a fall. The gap up is one area that may potentially get filled.
Supports 24530-24480-24430
Supply 24630-24680-24710
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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