IGB 10Y has seen one of the strongest rally for the week, falling 21 bps for the week, amid the hopes of the US-Iran peace deal, even though attacks on Lebanon has continued by Israel which is against one of the ten points truce deal proposed by the Iran. As the peace talks have failed over the weekend, I expect the volatility to continue this week in the markets.
Further, Crude oil fall and rupee strengthening have supported the yields amid the possible truce deal.
For the coming week, I expect 6.88-6.90% will continue to act as a resistance level, with 6.78-6.80% beyond this. On the other side, 7.00% will act as a first support level, 7.06% beyond that and 7.12-7.15% further.
Further, Crude oil fall and rupee strengthening have supported the yields amid the possible truce deal.
For the coming week, I expect 6.88-6.90% will continue to act as a resistance level, with 6.78-6.80% beyond this. On the other side, 7.00% will act as a first support level, 7.06% beyond that and 7.12-7.15% further.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.