A long-term investor can employ an accumulation strategy during the year as the sector is now trading at its long-term averages. Market Activity Sectors show the best time to trade. With expected moderation in credit growth during FY24 and pressure on margins, we maintain our neutral view on the sector, but with a stock-to-stock approach. We chose the most importants and essential Exchanges and Markets and the most influential trading hours and grouped them in a way you can clearly see the entire Forex trading day hour by hour. Although margins improved during FY23 with strong loan demand and improved book quality, further upward repricing of deposit rates due to growth imbalance could add pressure on margins. Here’s what analysts said:Prashanth Tapse, Senior VP (Research), Mehta EquitiesLooking ahead, bulls are expected to continue to take over the positive momentum in the next trading sessions, with the biggest intraday support on Nifty to watch at the 17227 mark for Wednesdays trade. While credit growth remained strong, banks struggled to balance the flow of deposits, resulting in tight liquidity in the system. This, along with the global financial breakdown, kept banking sectors off the investor’s shopping list. Central bankers worldwide were forced to battle heightened inflation, leading to a series of rate hikes. Though the year witnessed robust credit growth with improvements in asset quality, multiple headwinds kept the performance of bank stocks subdued. In terms of the overall market trend, we have a range-bound view for Nifty with resistance around the 17450-17490 range and a good support range at 17300-17350.Ġ2:56 PM FY23 was not a year of smooth sailing for the banking sector. Volatility has been falling down from the last four trading sessions which is giving some comfort to the bulls.Option data suggests a broader trading range between 1700 zones while an immediate trading range between 1720 zones.Chart readers said the index is currently placed at the hurdle of the previous significant opening downside gap of 10th March around 17400 levels.What should traders do? Here’s what analysts said:Prashanth Tapse, Senior VP (Research), Mehta EquitiesLooking ahead, bulls are expected to continue to take over the positive momentum in the next trading sessions, with the biggest intraday support on Nifty to watch at the 17227 mark for Wednesday's trade. Now it has to hold above 17,350 zones to extend the move towards 17500 then 17600 zones while on the downside supports shift higher at 17300 then 17171 marks, said Chandan Taparia of Motilal Oswal.India VIX was down by 2.74% from 12.94 to 12.58 levels. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365).Nifty today formed a small bodied bearish candle with long lower shadow which indicates that declines are being bought. ![]() Registered Address: 251 Little Falls Drive, Wilmington, DE 19808. FXP is not responsible for any trading decisions taken by persons not intended to view this material. ![]() Tip 1: Tip 1’de BOS-MSb-Choch çizebilmek için fiyatn ine ucunu gövde ile krmas beklenir. Her iki tipte de haritalama ilemi için ine uçlar alnmaktadr. Burada market krlm çizgilerinin çizilmesinde iki tip bulunmaktadr. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. Market krlmnn belirlenmesinde çizdiimiz çizgiler çok önemli hale gelmektedir. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. ![]() This information is made available for informational purposes only. ![]() Information presented by FXP should be construed as market commentary, merely observing economical, political and market conditions. residents or individuals domiciled in the U.S. Any and all information provided by FXP is not intended for use by U.S. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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