Wall Street failed to cheer on the first trading day of 2023. TESLA was down 12% while APPLE fell 3.7%. US Fed meeting minutes to be released today.
Global growth weighs on market – Crude oil down by around 2% – 3%. Natural gas around $4 is back to pre-Russia-Ukraine crisis level. Gold price touched $1850 are trading at recent high.
Going into result season next week – IT stocks are expected to deliver muted growth.
VIX @ 14.38: remains within comfortable level of 14 – 16.
Approach on Indices: Indices in positive trend while important support level on Nifty @ 18037 & Banknifty @ 42573 needs to hold on with upside target of 18462 on Nifty and 44151 on Banknifty.
SGX Nifty @ 18254 down 52 points at 8:10 AM
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