The Indian market (Nifty Fut/India-50) is currently trading around 10670
early Wednesday, surged by almost +0.85% (+88) on hopes of a dovish monetary
policy by the newly appointed RBI Governor Das. The market is expecting revert
to the earlier “neutral” mode from the present “calibrated tightening” by the
RBI under the new Governor and a cut in SLR and CRR to enhance system (banking)
liquidity. The 10Y Indian bond yield tumbled to 7.42% on hopes for a dovish RBI
in the days ahead under the new RBI governor.
For more: https://www.iforex.in/news/nifty-surged-early-wednesday-hopes-dovish-monetary-policy-newly-appointed-rbi-governor-das-60427
More:https://www.iforex.in/news/nifty-stumbled-early-tuesday-patelexit-higher-usdinr-recovered-better-expected-election-outcome-mp-bjp-60387
Technical View (Nifty, Bank Nifty, USDINR-I):
Technically, Nifty Fut-I
(NF) has to sustain over 10725 for a further rally to 10765/10785*-10805/10885
and 10915/10975-11025*/11085 in the near term (under bullish case
scenario).
On the flip side, sustaining
below 10705-10650, NF may fall to 10600-10575 and 10525/10500*-10435/10400 and 10375/10350-10300*/10250
and further 10200/10180-10050/10000 in the near term (under bear case
scenario).
Technically, Bank Nifty Fut-I
(BNF) has to sustain over 26600 for a further rally to 26715/26775*-26900/27075*
and 27200/27350-27550/28000 in the near term (under bullish case scenario).
On the flip side, sustaining
below 26550-26400 BNF may fall to 26200/26100*-25950/25650* and 25400/25200-25000/24650
in the near term (under bear case scenario).
Technically, USDINR-I has to
sustain over 71.75 for a further rally to 72.20/72.65*-73.05/73.35 and
73.75/74.00-74.45/74.75* in the near term (under bullish case scenario).
On the flip side, sustaining below 71.25
USDINR-I may fall to 70.90/70.40-70.00/69.75 and 69.30*/68.80-68.50/68.00 in
the near term (under bear case scenario).
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NIFTY FUT
BANK NIFTY FUT
USDINR-I
SPX-500 FUT
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