Wall Street ended mix after US Fed chair Jerome Powell testimony Day-2. Powell: Haven’t made any decision about March meeting, will be guided by incoming data.
US Economic data: ADP Non-farm employment change came at 242k Vs estimate of 197k. JOLTS Jobs opening @ 10.82 M Vs estimate of 10.58 M.
F&O data: FII long: short position at 24.92%:75.08%. Nifty PCR @ 1.27 Vs 1.12 previous. Banknifty PCR @ 1.27 Vs 1.00 previous. F&O data looks overbought in near term as weekly index options expiry today.
VIX @ 12.45: at extremely low level, could move towards 14.
Approach on Indices: In last 3 trading session, Indices gained over 2%, but indices have seen correction / consolidation on intraday basis. Nifty range seen between 17700 – 17800 & Banknifty range seen 41400 – 41800 as weekly Index options expires today.
Market View: Index continue to trade in range, but momentum seen picking up in mid-cap & small-cap stocks. Today market likely to correct / consolidate.
SGX Nifty @ 17789.50 down 10.50 points at 8:05 AM