Indian market had complete flip from the global cues, Nifty ended 66 points or 0.37% down, while Banknifty was up 532.30 points / 1.30% up. De-coupling narrative played out.
US Economic data due today are: Retail & Core Retail sales, Empire state manufacturing Index & Philly Fed manufacturing index.
VIX @ 18.28: comfortable till VIX is below 20.
Approach on Indices: Nifty @ 18134 & Banknifty @ 41454 could act as resistance level due to weekly expiry. Momentum remains on upside; we will prefer to book profit on long side and wait.
Market View: Domestic economy stocks remains top picks and wait for some fresh sign to play momentum. Trend remains same – Avoid IT & Metal & Global economy facing stocks and view remain bullish on domestic consumption story.
We expect quite session as compared to yesterday ‘s volatile session.
SGX Nifty @ 18047 up 57 points at 7:55 AM