NIFTYBANK: The cut above the rest?
When it comes to "cut' and the banks, it is usually seen as the rate cut.
1. Bank of Canda cuts rates, inflation higher, (case of regret)
2. Australia does not cut continues the path of hold.
3. ECB cuts but sounds no more rate cuts.
4. Swiss cuts, most likely to ward off any stronger CHF from European political crisis.
5. Our own cuts, one can expect but they will remain a reality in mirror than a chance.
Higher Dollar, higher crude prices challenges on the inflation front. The euphoria of RBI dividend took some time to unwind. Now the euphoria of flood of bonds will take some time to unwind.
Higher base without a doubt, but occasional, re-assess is not out of the ordinary on this one.
Looks capped in the recent high, for one move towards series of horizontal support line drawn. One minor cycle of five waves to the downside, interesting to see. Very short tenor momentum is towards the same.
Supply 52780-52930-53100-53180
Support 52400-52150-51950
1. Bank of Canda cuts rates, inflation higher, (case of regret)
2. Australia does not cut continues the path of hold.
3. ECB cuts but sounds no more rate cuts.
4. Swiss cuts, most likely to ward off any stronger CHF from European political crisis.
5. Our own cuts, one can expect but they will remain a reality in mirror than a chance.
Higher Dollar, higher crude prices challenges on the inflation front. The euphoria of RBI dividend took some time to unwind. Now the euphoria of flood of bonds will take some time to unwind.
Higher base without a doubt, but occasional, re-assess is not out of the ordinary on this one.
Looks capped in the recent high, for one move towards series of horizontal support line drawn. One minor cycle of five waves to the downside, interesting to see. Very short tenor momentum is towards the same.
Supply 52780-52930-53100-53180
Support 52400-52150-51950
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