Fellas, today's range breach is to be watched for....
Do you know why?
Nifty, BNF, RIL, Infy, some major banks all took resistance around their respective SVWAPs.
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Except ici, none others went above O=H.
(I personally never trade based on O=H/ O=L; area is prone to spikes.)
But, when index & heavyweights have O=H at same time, it lends more credibility. -> today Gapup buyers were not in control.
(I personally never trade based on O=H/ O=L; area is prone to spikes.)
But, when index & heavyweights have O=H at same time, it lends more credibility. -> today Gapup buyers were not in control.
#nifty #hdfc #infy #hdfcbank #icicibank #tcs have nearly O=H. (Give or take few points)
— Pankaj DP (@voPAtrader) March 10, 2022
Rarely this happens.
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History tells us when #USDINR moves it moves a lot. In that context it has been remarkably resilient with just 8% depreciation. It looks like we are very close to the point from where Rupee will start to appreciating again.
BTW Nifty Metal has inverse correlation with USDINR. https://t.co/X6cqVcYF3V
BTW Nifty Metal has inverse correlation with USDINR. https://t.co/X6cqVcYF3V
We know how our stock market has weathered the FII selling.
— Sandeep Kulkarni (@moneyworks4u_fa) June 10, 2022
But the equally big story is how Rupee has weathered $50bn+ outflows since Oct 2021. Hats off to RBI Governor Das & his team for having the vision of building huge reserves in his tenure. pic.twitter.com/CVuF9dM361