Indian & Chinese troops clash at Tawag in Arunachal Pradesh on 9-Dec-22, status quo maintained.
Wall Street rallied from 1.26% to 1.58% ahead of monthly CPI & Core CPI Data to be released today evening ahead of US Fed meeting tomorrow.
India ‘s CPI inflation data came at 5.88% Vs estimate of 6.30%. First time inflation figures are below 6% in last 11 months. IIP data for October came at -4.0% Vs estimate of -0.8%.
F&O Data: FII net long in Index futures stands at 59.60% / 32600 contracts. Nifty PCR @ 0.91 Vs 0.76 previous. F&O data indicate positive setup.
Approach on Indices: Nifty above 18599 could open upside to 18820 – 18900 & Banknifty is heading towards 44006 – 44200 level.
Market View: Global cues are positive ahead of US CPI & Core CPI inflation data today, SGX Nifty indicate positive opening of 40 – 50 points. We can expect major move after CPI & Core CPI inflation data and we expect to positive move to continue.
SGX Nifty @ 18635.50 up 37.50 points at 8:20 AM