Extreme fear, Futures hopes, future should look like future ("Elan Musk"). FED officials' comments cuts both ways, starts with hawkish to very hawkish tone. Ranging from need more than one hike, soft landing possible, rates will stay till 2024 then not sure if the next meeting holds any hike. Crude gallops near 95, blame the inventory deficits. USD continues to rocket; safe heaven Gold goes south.
There are no safe heavens right now other than dollar, and that is reflected even in Rupee (despite the regulatory interventions, no one knows when it is over!). Crypto continues its riddle, most memory have been erased of this space. Data front Final GDP, PPI, Michigan Inflation expectations, some inflation from Europe, Powell speech is the one's to look for. Half year ending, flows to drive the markets.
Fear Index is at its lowest, SPOOS held the support on close basis, despite much deeper low. 4240-4340 dictates here.
Markets behaved more or less to our expectations, those who feared the fall, would have seen an opportunity to buy around 19570 area for move towards our top of the range 19730. Held by the trend line, the PIP graphs show the hammer pattern, assuming that remains the support, one can expect max moves to 19880 (not today's call and not 100% probable moves). While a close above 19880 is needed for the bulls to re-assert, bears need 19580 close to trigger more fears. Holiday shift does not do any great things, FII and DII volumes are dried up. For the day 19650-19780 should work.
NSE recommendation to SEBI for longer hours, not sure why that is needed when GIFTNIFTY is available, are we moving towards ODTE tribe here too. Then Why do you need Gaming apps?
There are no safe heavens right now other than dollar, and that is reflected even in Rupee (despite the regulatory interventions, no one knows when it is over!). Crypto continues its riddle, most memory have been erased of this space. Data front Final GDP, PPI, Michigan Inflation expectations, some inflation from Europe, Powell speech is the one's to look for. Half year ending, flows to drive the markets.
Fear Index is at its lowest, SPOOS held the support on close basis, despite much deeper low. 4240-4340 dictates here.
Markets behaved more or less to our expectations, those who feared the fall, would have seen an opportunity to buy around 19570 area for move towards our top of the range 19730. Held by the trend line, the PIP graphs show the hammer pattern, assuming that remains the support, one can expect max moves to 19880 (not today's call and not 100% probable moves). While a close above 19880 is needed for the bulls to re-assert, bears need 19580 close to trigger more fears. Holiday shift does not do any great things, FII and DII volumes are dried up. For the day 19650-19780 should work.
NSE recommendation to SEBI for longer hours, not sure why that is needed when GIFTNIFTY is available, are we moving towards ODTE tribe here too. Then Why do you need Gaming apps?
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