Market Mover - BNP PARIBAS - Investment Services India

This section is classified as non-objective researchGermany 10y: Bottoming/up ST above 2.06 (H&S neckline) for 2.41 target MT Trend: Down Range: 2.10/2.30MT SCENARIO is still slightly down1.64 2.57The sharp fall seen from the 3.50 top sent itsharply below 2.09 (2010 low), close to 1.55/1.57 (MT falling support line+ LT 138.2extension). Despite current ST bottoming biasand return above 2.09 (2010 low), MT bias isstill slightly down oriented but would berekindled by a move below 2.06 (H&Sneckline) initially and then 1.87 (61.8%).ALTERNATIVE SCENARIO...ST rise extendsThe ST bottoming/up bias since the breakabove ST falling wedge and 2.06 (invertedHead and Shoulders neckline) persists withrisk of developing a further ST rising biastowards 2.41 target, but now needs toovercome 2.25 top to strengthen rising bias.STRATEGYRe-entered short on 2.00/2.05, S/L 2.10 now,for 2.40UK 10y: ST bottoming/up bias after ST falling wedge break for 2.96 target MT Trend: Down Range: 2.48/2.70MT SCENARIO is still down orientedLarge down move below 2009 and 2010 lows2.18