Market Update 15. 03. 2021


Good morning everyone! Hope you all looking forward to an amazing weekend. Here is a quick read out on markets. Obviously we having a lot of action in bond this week and yields flying higher with Joe Biden signing a 1.9 trillion dollar COVID-19 stimulus package into law.

Banknifty and nifty have been following a "gap up to sell" texture. Personally I have been looking for a target of 34472 on the banknifty index.

US markets closed at a valuation of 194.7% market cap vs GDP and people piled into markets because of more stimulus & the ECB promising to print faster.

Along side Italy's 10-year bond yield collapses after ECB announces to speed up bond purchases.

The U.S. 10-year Treasury yield climbed to its highest level in more than a year on Friday. Exactly a day after president Joe Biden signed his stimulus package into law. The 10-year yield advanced to 1.619% which is it's highest since February 2020. The yield on the 30-year Treasury bond rose 10 basis points to 2.382%.

S&P 500 erased earlier losses and inched up 0.1%, eking out a record close of 3942.25.

As I had mentioned last week as well that if you really want to get all optimistic on all this you can make the case that this can keep running right I mean we have a really key trend line here and you can make the technical case for 4900 on the s&p 500 and this is where a lot of the wall street analyst sits so you. You know you can either go straight to higher trend line or you can have corrective activity and then a move higher we will have to see to be determined.

Another favorite parameter I consider looking at is the VIX.

Friday $VIX crush.

Lastly coming to nifty50. I see no trades on the long side as of now. At least not until 15550 is taken out.


So I hope this was helpful, again if you haven't seen the articles you can go through them and kind of give you a more detailed perspective otherwise if you want a more daily view or more detailed view on the technical's you can join us. This is going to continue to be a journey and I encourage you to keep watching these charts that are highlighted because I think they're key for 2021.

Anyway I hope you all have an amazing weekend.

Take care! :)