Dollar, US Treasury Yield And Stock Specific Moves To Dictate Market Next Week

Markets after having rising back to back since the budget announcement ended on a weak note for the week ended February 19, 2021. Though during the period indices also climbed to a new high.

Dollar, US Treasury Yield And Stock Specific Moves To Dictate Market Next Week

Nifty PSU Bank after seeing gains of over 40 percent so far in February lost on the last day owing to profit booking. All of the Nifty sectoral indices ended with a fall.

And for now stock specific movement, dollar momentum as well as US treasury yield will direct markets through the next week. In the current regime, US treasury yields have been climbing on expectations of increasing inflation fears because of increased liquidity in global markets.

All and all, Nifty is likely to see a modest technical pullback in the initial part of the week. To avoid further weakness, it would be crucial for Nifty to crawl back above the 15,000 level and stay above that. So, after retreating well from the life time highs of 15432, levels on the Nifty shall be watched out.

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