NIFTY: Bulls in the bank, Bear's outside, but insde!
When was the last time one witnessed NIFTY in marginal RED while Nifty Bank is roaring Green. The differential move is near 2%
If differential is the only factor, then it was in 2022 such a move did unfold, but not with NIFTY near neutral or shade RED and NIFTYBANK deep green. That time both were reasonably up.
Are we about to witness move from equity to bonds, thus helping the banks as rush of liquidity in bonds can push the yields down, the cost of deposits can go down, in turn the profits on the securities portfolio.
While global inflation concerns remain adhoc, recent US inflation softer tone is largely on the energy prices. Which is now back around the 85 dollars. So, expecting early cut in US is as good as it tomorrow comes kind of.
Host of Central Bank ahead, China keeps steady. before that Brazil. We have the BoE and the Swiss Central Bank later in the day.
Not much of important data, but the EIA inventories are one to keep a tab on it.
Bulls go berserk on the banks, while bears go all out on ex-banks, keeping them well to the bank.
The fall in volumes more so after the steep EXIT poll crash remained the concern. The last couple of days increase in Volume relatively to the recent ones remain the concern.
Recall 23500-23800 is the best in the current run, which we pencilled in, hence markets would re-work on these lines. 23200 is the new base while short term, failure around the 23420 opens up if profit taking in NIFTYBANK opens.
Supports 23480-23420-23350-23330
Supply 23580-23620-23680
If differential is the only factor, then it was in 2022 such a move did unfold, but not with NIFTY near neutral or shade RED and NIFTYBANK deep green. That time both were reasonably up.
Are we about to witness move from equity to bonds, thus helping the banks as rush of liquidity in bonds can push the yields down, the cost of deposits can go down, in turn the profits on the securities portfolio.
While global inflation concerns remain adhoc, recent US inflation softer tone is largely on the energy prices. Which is now back around the 85 dollars. So, expecting early cut in US is as good as it tomorrow comes kind of.
Host of Central Bank ahead, China keeps steady. before that Brazil. We have the BoE and the Swiss Central Bank later in the day.
Not much of important data, but the EIA inventories are one to keep a tab on it.
Bulls go berserk on the banks, while bears go all out on ex-banks, keeping them well to the bank.
The fall in volumes more so after the steep EXIT poll crash remained the concern. The last couple of days increase in Volume relatively to the recent ones remain the concern.
Recall 23500-23800 is the best in the current run, which we pencilled in, hence markets would re-work on these lines. 23200 is the new base while short term, failure around the 23420 opens up if profit taking in NIFTYBANK opens.
Supports 23480-23420-23350-23330
Supply 23580-23620-23680
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