Wall Street rallied ahead of important US CPI & Core CPI inflation data. US market up by 0.80% to 1.76%.
Gross direct tax collection up 24.5% to 14.71 lakh crores till 10th January 2023, it is 86.7% of its FY23 budget estimate.
US CPI & Core CPI Inflation data & IT major INFY & HCLTECH to declare result – both this event after Indian market today. Indian market will react to both this event tomorrow.
VIX @ 15.44: Moved above 16 and closed below 16 by closing, move above 16 – needs to be cautious.
Approach on Indices: Weekly index options expiry today will guide today’s market; Nifty @ 18000 & Banknifty @ 42500 would remain center point. Nifty PCR @ 0.75 from previous 0.71 continue to bounce from oversold zone,
Market View: Today going into event result and US data today – Make / break day. Tomorrow market could expect major gap-up / gap-down based on outcome of this event. We would continue to remain long and may take hedge / PUT buy to protect any knee jerk reaction tomorrow (if any) and continue to hold on to existing long.
SGX Nifty @ 18005.50 up 55.50 points at 8:15 AM