Wall Street ended mix as US economic data came weak. ADP non-farm payroll data came at 145k Vs estimate 208k. ISM Services PMI came at 51.2 Vs 54.3 estimate.
RBI MPC meeting outcome at 10:00 AM today, market expectation and factored in 25-bps rate hike. RBI Governor comment will be key driver.
F&O data: FII net bought 31346 contracts in Index futures, build-up seen on options side. Nifty PCR @ 1.39 Vs 1.15 previous, still below overbought zone.
VIX @ 12.41: could rise to 14 level.
Approach on Indices: as per our understanding, technical do indicate further upside on Nifty @ 17799 & Banknifty @ 41625 level. Today being RBI MPC outcome & weekly option expiry – we expect decisive move post event. We expect high volatility and seen Nifty range to be 17428 to 17799 & Banknifty range 40474 to 41625.
SGX Nifty @ 17592.50 down 32.50 points at 8:20 AM