NIFTYBANK: Fitch and the Ouch!
Bulls carry the Ouch, bears the fitch. Clearly the new "ITC" in town is the HDFC.
You like HDFC, but HDFC is not liking you. You can count on it, but it won't count on you. Its time is yet to come, but for sure it will come!
Results come, clues from ADR suggests a fall. The fall if any, will frustrate the new buyers. Simply there are many places than this one at this point of time.
Fitch news is nothing new, markets wont focus on this one. Higher Yields in US, lower credit off take, higher government expenditure last quarter always about liquidity are the points that weigh on the market.
Failure around 48400-300 area, if we close below 47800 brings back the lower range than otherwise. Expectation of quick move past 48500 may have to be tempered for now. That is typically built in the Index.
US Empire State Manufacturing comes huge surprise, China Equity despite the stimulus fall further. Markets don't factor this stimulus as a direction but a band aid solution at this point of time.
Break of 47800 is the only trade that one can venture, but things can quickly flip. One needs a close to get into this trade. 47700-48400 are the ranges to focus.
You like HDFC, but HDFC is not liking you. You can count on it, but it won't count on you. Its time is yet to come, but for sure it will come!
Results come, clues from ADR suggests a fall. The fall if any, will frustrate the new buyers. Simply there are many places than this one at this point of time.
Fitch news is nothing new, markets wont focus on this one. Higher Yields in US, lower credit off take, higher government expenditure last quarter always about liquidity are the points that weigh on the market.
Failure around 48400-300 area, if we close below 47800 brings back the lower range than otherwise. Expectation of quick move past 48500 may have to be tempered for now. That is typically built in the Index.
US Empire State Manufacturing comes huge surprise, China Equity despite the stimulus fall further. Markets don't factor this stimulus as a direction but a band aid solution at this point of time.
Break of 47800 is the only trade that one can venture, but things can quickly flip. One needs a close to get into this trade. 47700-48400 are the ranges to focus.
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