NIFTYBANK: Fists, Fiscal and Firepower.
It was an disappointment to see this Index falling through the support and closing at the low, minor wick at the support line drawn from the previous lows.
The markets look green, the question one has to ask is the damage already dun, if yes then the failure around the dotted line assume significance on any rise. This circules around the 47800-900 clearly the previous support now may act as resistance.
With Investment drive be it various states are the Vibrant Gujarat, Government spending is the real driver while the private consumption is taking a slower decent, this clearly flagged as fiscal activism. We clearly drawn this part of the global economic landscape, monetary and fiscal divergence will have to lead something to break to get it re-set. The longer the time it takes the greater the damage. For now all is well.
The PIP graph is of that of HDFC bank, has it broken the H n S, if the market cues are green will it bounce back above that. This can provide initial cues, and thus 1680 close remains vital to note. Any failure below yesterday lows, potentially can take this index down.
Core inflation remains near stubborn, today Japan Data confirms that too. While recent MoM is on the mend. Later in the week US inflation and our own, markets have near discounted them.
For the day 47800-900 remains a place to watch and reluctant shorts than longs with quick stops 48150. A close below 47600 after a higher open is again a negative tone for the day.
The markets look green, the question one has to ask is the damage already dun, if yes then the failure around the dotted line assume significance on any rise. This circules around the 47800-900 clearly the previous support now may act as resistance.
With Investment drive be it various states are the Vibrant Gujarat, Government spending is the real driver while the private consumption is taking a slower decent, this clearly flagged as fiscal activism. We clearly drawn this part of the global economic landscape, monetary and fiscal divergence will have to lead something to break to get it re-set. The longer the time it takes the greater the damage. For now all is well.
The PIP graph is of that of HDFC bank, has it broken the H n S, if the market cues are green will it bounce back above that. This can provide initial cues, and thus 1680 close remains vital to note. Any failure below yesterday lows, potentially can take this index down.
Core inflation remains near stubborn, today Japan Data confirms that too. While recent MoM is on the mend. Later in the week US inflation and our own, markets have near discounted them.
For the day 47800-900 remains a place to watch and reluctant shorts than longs with quick stops 48150. A close below 47600 after a higher open is again a negative tone for the day.
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