Banking Stocks facing pressure.
On the reverse repo rate cut, banks are parking closer to 7-8 Trillion INR (as per the public domain) to RBI to attract the interest of 3.5-3.75%. So where is the lending happening?
No one really knows.
Indian operators can hold the markets but not for very long.
RBI is done with its charades of repo & reverse rate cut.
The stimulus package isn't helping either.
This week will be stressful for the banking & Nbfc stocks.
HDFC Bank is around a support area.
Crossing that we can see 750 levels.
Look for a breakdown for going short.
No one really knows.
Indian operators can hold the markets but not for very long.
RBI is done with its charades of repo & reverse rate cut.
The stimulus package isn't helping either.
This week will be stressful for the banking & Nbfc stocks.
HDFC Bank is around a support area.
Crossing that we can see 750 levels.
Look for a breakdown for going short.
Catatan
Chart Update - Stock opened gap up and took support on our trend line.We will only look for a short once it is around 800 levels.
On the Macro level stock is still below 200 EMA & our heat zone is working.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.