Daily Report 13-Jun-22

Wall Street was down from 2.73% to 3.52% as growth stocks continue to drag market down.  Going into US FOMC meeting outcome on 15-Jun-22, risk-off continues

Meltdown in Crypto currency continues as Bitcoin now below $26000.  Dollar Index @ 104.373 & US 10-year bond yield @ 3.20%.

VIX @ 19.58: today likely to open around 22 level.  We would turn cautious if VIX crosses 25 level.

Approach on Indices: SGX Nifty indicates opening around 15860 level, back to March & May 2022 lows, approaching 3rd time. 

Market View: Market approach “Play for June – Technical bounce” now seems to be over and we need to closely watch whether the market is able to hold on to it.  Global risk-off continues as tight monitory policy will money will move to safe asset classes.

Wall Street was down from 2.73% to 3.52% as growth stocks continue to drag market down.  Going into US FOMC meeting outcome on 15-Jun-22, risk-off continues

Next major event for global market is US FOMC meeting outcome on 15-Jun-22.  Indian market will react to it on 16-Jun-22.  Indian inflation & IIP data due to released today & WPI data to be released on 14-Jun-22.  Remain light & prefer hedge position.