It is Cut and Action not Action n Cut!
Central Bank's cut now the turn of BOE, hope of FED in September. BOJ rise is still digested.
Risk off is huge, US 10 Y is dropping and further to go, purely on risk off.
There is chance of another 10-15 bps fall.
The fall in yields usually should be good, but historically if the fall is on the backdrop of risk off (risk assets gets sold), or on the expectation of recession.
In any case we have not risen in terms of rates much not fallen that much, we have to look east in this respect.
Dollar is on rise, save the JPY.
Cues are negative, but the heavy weight HDFC Bank usually performs well in a broader downward market holding the steeper fall. Look at some of the defence like NESTLE LEVER that comes to aid.
High beta will be hit hard more so on places that are held in excess.
Economic data came below expectations GST higher is not looked positively in this current set up.
TGIF is clearly lit large.
Evening Star in Bi-Weekly (still not complete), best is larger degree wave ABC in motion, A which is of 5 is in PIP
Recent low are one to look for a base if any.
Support 51200-50950-50450-50200
Supply 51800-52000-52150
Risk off is huge, US 10 Y is dropping and further to go, purely on risk off.
There is chance of another 10-15 bps fall.
The fall in yields usually should be good, but historically if the fall is on the backdrop of risk off (risk assets gets sold), or on the expectation of recession.
In any case we have not risen in terms of rates much not fallen that much, we have to look east in this respect.
Dollar is on rise, save the JPY.
Cues are negative, but the heavy weight HDFC Bank usually performs well in a broader downward market holding the steeper fall. Look at some of the defence like NESTLE LEVER that comes to aid.
High beta will be hit hard more so on places that are held in excess.
Economic data came below expectations GST higher is not looked positively in this current set up.
TGIF is clearly lit large.
Evening Star in Bi-Weekly (still not complete), best is larger degree wave ABC in motion, A which is of 5 is in PIP
Recent low are one to look for a base if any.
Support 51200-50950-50450-50200
Supply 51800-52000-52150
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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