IGB 10Y Weekly/Monthly Update

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IGB 10Y has formed a descending triangle on daily charts, with 6.64% acting as a support level. A breakout from the pattern indicates a drop in the yields to 6.50%.
Hence for the coming month are expected to trade in the range of 6.50%-6.78%. 6.65% has been acting as a crucial support since last few weeks and it expected to remain the same. If it breaches, this level, it likely to find support at 6.60%, which acted as resistance in the earlier range bound motion. On the upside, if it breaches 6.75% level,it may find resistance at 6.88% levels.

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