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Ashish Ghosh is a NCFM certified research analyst for the global and Indian financial markets. With more than 15 years of experience in the capital market, Ashish has been published in high-profile online media regularly. He holds a B.Sc. in Math along with NCFM certification for Technical and Fundamental analysis. Presently, he is working with iForex as a financial analyst/content writer since 2017, analyzing mainly the global and Indian markets. You can reach him for professional levels trading ideas or signals through Gmail/telegram ID: ashishghoshjpg/asisjpg

Wednesday, 12 December 2018

Nifty surged early Wednesday on hopes of a dovish monetary policy by the newly appointed RBI Governor Das

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).

For global market news and analytics: https://www.iforex.in/news

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NIFTY FUT


BANK NIFTY FUT


USDINR-I


SPX-500 FUT


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