Note: rising yields = declining bond prices.
The projection at 8.02% has also been hit and a counter trend phase has taken hold. A decline towards 7.259% or (max) 6.99% can be expected before yields head higher again. It could easily take a few weeks before things cool down, so it is probably prudent to avoid the market for now.
- Near term trend: negative
- Long term trend: positive
- Outlook/expectations: correction in uptrend
- Strategy: avoid
- Support: 7.16% / 6.98% / 6.82%
8.02%*/ 8.995%* / 10.55%*
- Outlook neutralized: below 7.16%
Weekly chart India 10yr Bond Yield