rajesh kazhipurath’s Post

#US10Y: the sharp fall almost tested the support at 4.01; like I said yesterday, we were getting into slightly overbought zones. That’s done now; structure remains a buy on dips. Resistance now at 4.08 and supports at 4.01 & 3.95

A bag of mixed US data and some profit booking led to a cool off in US yields. Fed’s Waller’s comments also created quite a flutter. ( please see main points below). USD held up. Equities gave up their gains. The Middle East has not thrown up any new triggers off late. We have the UK CPI and PPI numbers today

#Banknifty #futures: another big day for BN; low and open around the support at 51509 and closing just below the 50 WMA at 52200; key resistances are 52245 & 52450 now; above 52450- the current sell on rise structure changes; resistance above this at 52713; supports now at 51903-51655

#Nifty #futures: the low and open was around the support at 25072 & high at the resistance of 25238; key levels now are 25350- the 50 WMA, 25403 & finally 25530; till 25530 breaks, structure is Sell on rise; supports at 25072 & 24843

#NIFTY: it’s been a decent consolidation; found resistance at 25148; the resistances now are at 25283 & 25400; above the 25400- 25440 zone, the current sell on rise structure changes. Till then sell on rise. Supports at 25075- 24997 & 24860

#USDINR: Rupee’s story has been of every day very little changes and suddenly everything is different; now that 84 is done, next resistance is at 84.15; supports at 84 & 83.81; will volatility be allowed back in the pair? We had one phase when the dip to 83.50 happened. Let’s see. But on dips

#USDJPY: creeping up to the 150.20 resistance; this is key more on a sentiments point of view; not overbought on charts, but gives out the sense that something will give; supports at 148.81 & 147.60; above 150.20, it’s straight 151.90; buy on dips

#GBPUSD: the flat trading continues; we have the UK labor data today; can be a market mover given the backdrop of rate differentials and BoE rate action; key resistance at 1.3150 & support at 1.2978; Sell on rise

#EURUSD: the pivot at 1.0930 gives away and euro tested the support at 1.0885; we have industrial production and the ZEW eco sentiment prints today; resistances now at 1.0930 & 1.0970; supports at 1.0885 & 1.0830; Sell on rise.

#DXY: finally breaks above 103.08; next targets are 103.51 & 103.97; buy on dips; caveat: getting slightly into overbought zones; supports at the (102.80-103.08) zone; more likely than not the correction if any will be led by Yen;