Two pictures, the big one is intra-day and the PIP is Weekly. Intra-day is picture showing the bearish bat pattern, which moved to its logical down path. Triggered on break of the 0.886 number break. This morning BOJ leaves rates unchanged, no trouble in moving any of the financial markets. The bank that has not rocked any boat. SNB leaves, BOE pauses despite expectation of hike. Markets punish. The much-awaited news of Bond Inclusion is liquidity additive, not sure if they are in short term equity additive. On the aggregate, it should add to the underlying investment pool when the global interest rate differences skew to us. At present with USD Rates of Closer to 6% and our Yields minus the Currency Depreciation, will be the considerations to keep in mind. Timing is important, for today, they are mere headlines, market may treat them at a later date. One dead cat bounce? The big trouble to the Index unfolds 43800-44200 range and base if they are taken out. The large Caps stocks have given away their advantage, while the small caps are prone to profit taking. The Second half of 2023 will go to the nimble and humble traders. Move over Exuberance, Return to Sanity (worth reading the speech form RBI). For the day 44400-44900 would fancy a range. Week-end fear or hopes will drive the last one hour. Dont be influenced by overseas cues for a change.
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