India 10 year Government Securities

Indian bond yields are in a pullback for a while and with yesterdays RBI announcements we came close to the 38.2% retracement mark. It maybe possible to complete a wave 2 expanded flat correction here if the 7.65 level holds. Then ideally wave (3) of 5 next to 8.2% should start. Wait and watch if rates manage to breakout of the pennant/triangle formation above 7.83

gsec 020818

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