Government Hikes Windfall Profit Tax on Export of Diesel, ATF; Cuts Tax on Domestic Crude Oil to 13000 per ton from 17750. Positive for ONGC & OILINDIA & mix for RELIANCE.
Wall Street closed flat to positive, Nasdaq was up 0.21% up as CISCO Systems helped to lift technology sector.
Dollar Index above 107.50, was trading below 105 level before 5 – 6 trading session. Strength in Dollar index is risk-off sign. As market another 75-bps rate hike.
Indian market in strong momentum ahead of final F&O expiry, BSE Sensex crossed 60000 level on Wednesday and Nifty approaching 18000 level.
VIX @ 17.35: will turn cautious above 20, within comfortable level.
Approach on Indices: We see some sign of tiring out, we will continue to find shorting opportunity and execute in phases. Some early sign of RSI heading downward, dip expected before F&O expiry.
AXISBANK GDP was up 7%.
SGX Nifty @ 17963 down 41 points at 8:10 AM