Modi government has signalled it's biggest intent of commitment to reforms by this appointment. What does it mean?
1. Government agreed with Governor Rajan policies and signal Continuity. Patel was Rajan right hand.
2. No rate cuts, Patel is in Rajan mould.
3. Bond yields will rise in short term, 7.17 pc can goto 7.3 pc.
4.Markets may correct knee jerk if at all they do, but new highs coming mostly till Diwali.
5. Long time back I was saying 10500, we will get there eventually.
6. 80 pc retracement of 9119 6825 is 8660, close above this on consistent basis implies new highs or testing of 9119.
.7. Sectors to watch out for are Banking, Pharma, defence, Infrastructure especially road building.This has been a Special, masterstroke, cut a popular Governor to size and yet retain the cream.
It feels good to restart blogging, my 1 month break is over. I am back.
1. Government agreed with Governor Rajan policies and signal Continuity. Patel was Rajan right hand.
2. No rate cuts, Patel is in Rajan mould.
3. Bond yields will rise in short term, 7.17 pc can goto 7.3 pc.
4.Markets may correct knee jerk if at all they do, but new highs coming mostly till Diwali.
5. Long time back I was saying 10500, we will get there eventually.
6. 80 pc retracement of 9119 6825 is 8660, close above this on consistent basis implies new highs or testing of 9119.
.7. Sectors to watch out for are Banking, Pharma, defence, Infrastructure especially road building.This has been a Special, masterstroke, cut a popular Governor to size and yet retain the cream.
It feels good to restart blogging, my 1 month break is over. I am back.
Sir welcome back.
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