Paul Ciana, Global Chief of Fixed Income and Technical Strategist at Bank of America Merrill Lynch (BofAML) reviews the charts of global and Indian forex, commodity and equity markets.

“US 10-year yields are positioned to rise more than S&P 500 and so they are relatively positioned to outperform,” he said.

Ciana said that US 10-year yield has not seen the 200 month simple moving average since 1989.

“We think India’s 10-year yield could rise to about 8.2%,” he added.

“There is about a two-year upward sloping channel that if we extrapolate forward, 12-18 months, the Nifty could see about 12,000. However, that is contingent on near-term price action remaining about 10,000,” said Ciana.

First Published:Apr 25, 2018 3:11 PM IST