Crude oil continues to trade weak on economic outlook, Brent crude oil trading near $77. Gold trading near $1800 ahead of US Fed meeting.
India’ inflation data for November to be released today, expectation at 6.40%; IIP data for October to released today, forecast at 0.3%.
F&O data: FII net long in index futures by 57.54% or 26536 contracts. Nifty PCR @ 0.76 compared to 1.04 previous.
Approach on Indices: Nifty @ 18421 & Banknifty @ 42996 to act as support level ahead of crucial week, this week market is expected to give decisive move. Nifty above 18599 could open upside to 18887 and Banknifty could likely to test 44006.
Market View: Going into trade this Monday morning with weak global sentiment as SGX Nifty indicate gap-down opening of 80 – 100 points ahead of crucial US Fed meeting on Wednesday.
SGX Nifty @ 18523 down 68 points at 8:10 AM