After large fall, three days of up move, classical corrective move that ensured yesterday. One may say negligible, but it still provided near 140 points move from high to low.
The much-anticipated Inflation data out, it is tad below expectations. What is interesting is markets will do what they like, irrespective what data suggests as long as data is within the periphery.
The inflation is above 3% near three years, the real interest rates are still accommodative, don't expect FED to rush and cut rates. 2024 is a slow fade as we navigate.
With commodities of all sorts showing raring to the upside, the job of inflation management is not going to be easy, prepare for stagflation, a win win for all. Higher nominal prices are a sure shot of tax mop up, which in turn aids to bridge the interest rate gap.
The trade deficit data comes out, the exports are anything but worrying. Finally, it is hitting our shores, the total dependency is on domestic. So, watch out those sectors that are weak in their exports.
With the festival of democratic elections still on, markets may not take one side breach as yet. The WPI inflation also higher, SBI raises deposit rates.
From the technical stand point 22330-380 are the supply zone and any raise expected to face hurdle while the 22130 is holding the support thus large range of 22130-22330, inclined the failure of rise to the top than otherwise. Cluster of Moving averages dotted horizontal lines and sloping supply lines ideally should hold the force of up move, FII's continue to be sellers and DII might take todays rise as an opportunity to lighten.
Supports 22150-22130-22080
Supply 22280-22330-22365
The much-anticipated Inflation data out, it is tad below expectations. What is interesting is markets will do what they like, irrespective what data suggests as long as data is within the periphery.
The inflation is above 3% near three years, the real interest rates are still accommodative, don't expect FED to rush and cut rates. 2024 is a slow fade as we navigate.
With commodities of all sorts showing raring to the upside, the job of inflation management is not going to be easy, prepare for stagflation, a win win for all. Higher nominal prices are a sure shot of tax mop up, which in turn aids to bridge the interest rate gap.
The trade deficit data comes out, the exports are anything but worrying. Finally, it is hitting our shores, the total dependency is on domestic. So, watch out those sectors that are weak in their exports.
With the festival of democratic elections still on, markets may not take one side breach as yet. The WPI inflation also higher, SBI raises deposit rates.
From the technical stand point 22330-380 are the supply zone and any raise expected to face hurdle while the 22130 is holding the support thus large range of 22130-22330, inclined the failure of rise to the top than otherwise. Cluster of Moving averages dotted horizontal lines and sloping supply lines ideally should hold the force of up move, FII's continue to be sellers and DII might take todays rise as an opportunity to lighten.
Supports 22150-22130-22080
Supply 22280-22330-22365
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