SYFXTF

SYFXTF

The currency pair gave great hopes when it finally gave indications of a possible shift lower towards 82.50 at least. However, as luck would have it the equity sell-off triggered the sentiments negative and witnessed sudden surge of buying interest to lift the prices above 83. At best we can assume that the band is marginally lowered to 82.85 83.15. A few...

SYFXTF

The currency pair finally shows signs of moving out of the 83.00-83.35 range after almost 3 quarters. In the past we have seen that when every time the pair comes closer to 83 there is a good amount of buying interest. With weekly closing below 83, we may see sellers emerging. A few observations Ultra-low Vols may be a huge risk and there could be sharp...

SYFXTF

The currency pair is witnessing surprise action as it moved from the high of 83.09 to 83.35. The market is refusing to believe this move as it has wedded to the logic that the currency pair will not be allowed to trade below 83.00 levels. They had seen that the currency stable irrespective any big move in DXY, Yields or Stock market. As observed in the previous...

SYFXTF

The Bank Nifty moved in range of 1225 points Viz. between 47411 & 48636. The Bank Nifty posted a new ATH. The Bank Nifty will now have decent support around 47250-300 zone which it crossed after 3 months of selling pressure. Bank Nifty has made its stride to attempt 48600 which is the target of breaking the descending channel. There are fair chances that the Bank...

SYFXTF

Expecting a directionless market during the last week of Dec, did not update the blog last week. Appears that the market continues its celebration which started around Diwali. The November and December completely changed the outlook of the market. 2800 points gain in just months. The ATH keeps shifting every week. Major factors contributing to the change in...

SYFXTF

The currency pair is witnessing surprise action as it moved from the high of 84.41 to 82.93. The market is refusing to believe this move as it has wedded to the logic that the currency pair will not be allowed to trade below 83.00 levels. They had seen that the currency stable irrespective any big move in DXY, Yields or Stock market. As observed in the previous...

SYFXTF

The Bank Nifty moved in range of 1333 points Viz. between 46886 & 48219. The Bank Nifty posted a new ATH. The Bank Nifty will now have decent support around 47250-300 zone which it crossed after 3 months of selling pressure. In the past week Bank Nifty did not move in the same pace as that of NIFTY. However, it is on its course to attempt 48600 which is the target...

SYFXTF

True to the characteristic of the animal, nothing can stop the charging Bull. Another Gap up opening on the weekly option expiry day was indicative of the continued strength of the up move. In the process the Index made new ATH. Major factors contributing to the change in sentiments are: stable oil price and economic data supporting a possible beginning of rate...

SYFXTF

The currency pair continues its narrow range with a marginal shift on the higher side, Viz. 83.24-83.41. As observed in the previous blogs, at best we can see marginal shifting of the range by 0.10 on either side. The currency pair does not seem to be impacted by moves in DXY, Yields or Stock market/ It appears like mimicking CNY action/control. As observed in the...

SYFXTF

The Bank Nifty moved in range of 1819 points Viz. between 45484 & 47303. The Bank Nifty successfully cleared the resistance at the top of the second level of the descending channel and moved swiftly towards 47K and made a new ATH. The Bank Nifty is facing hurdle around 47250-300 zone as could be seen from charts that 3 out of 5 candles of last week attempted this...

SYFXTF

The Index continued its bull run without any interruption. The big Gap up opening was indicative of the strong up move. In the process the Index made new ATH on 4 out of 5 days and hit a major mile stone of 21K. Major factors contributing to the change in sentiments are: the state election results, conflict zone returning to peacemaking efforts, stable oil price...

SYFXTF

As observed in the previous blog: At best we can see marginal shifting of the range by 0.10 on either side. The currency pair continues its narrow range with a marginal shift on the higher side, Viz. 83.24-83.41. It appears like mimicking CNY action/control. A few observations The rates remaining in a small range is not anything new for the currency pair as...

SYFXTF

The Bank Nifty moved in range of 1212 points Viz. between 43739 & 44951. The Bank Nifty successfully cleared the resistance at the top of the descending channel and moved swiftly towards 45K..The Bank Nifty is simultaneously created an ascending channel with top at 45300 at the top and 43800 at the lower end. The break of the larger descending channel target is...

SYFXTF

The Index continued its uptrend to scale a new ATH. Multiple factors favoured this move, Viz. the conflict one returning to peacemaking efforts, stable oil price and economic data supporting a possible cap on Interest rates. There was no looking back after the strong resistance at 19870-19900 gave way. The weekly candle still shows bullish nature of the move. As...

SYFXTF

After past week’s technical glitches which temporarily saw the currency pair breach the Golden rectangle, we are back again to the glued range of 83.10-83.30. At best we can see marginal shifting of the range by 0.10 on either side. A few observations As the base gradually shifting higher closer to 83, the market is no mood to believe decline towards even...

SYFXTF

The Bank Nifty moved in range of 576 points Viz. between 43240 & 43806. The Bank Nifty making its second attempt to breach the descending channel and ended closer to the trend resistance. Bank Nifty is fighting back to overcome the setback created by the regulatory changes on capital charge for a few risk assets and closed near the top of the range forming a...

SYFXTF

The Index seem to take a breather after scaling back the Oct peak. However, the crucial 19870 continues to resist for the past couple of weeks. The weekly candle still shows bullish nature of the move. Comparing the past this appears to be a new intermediary trend emerging. For now, we can safely assume that the base has shifted higher to 19430 A few observations...

SYFXTF

To compensate the technical outage of trading systems which happened in the previous week which saw the pair temporarily breaching the crucial 83.32, the pair did the opposite by declining sharply towards 82.92 for the first time after last week of Sep 23. However, the euphoria was short lived and the pair is back in its original territory of 83.10-83.30. A few...