Wall Street ended mix as market looks forward for US Fed meeting and CPI & Core CPI inflation data next week. Fed fund rate monitor tool indicate 66.8% probability of pause.
RBI MPC meeting outcome today at 10:00 AM: – Market expecting another pause today, any change in stance from withdrawal of accommodation or relaxation in CRR could provide positive trigger.
Defense stocks continue to remain in focus ahead of PM Modi’s visit to U.S. HAL & GE defense deal could benefit 600 MSME.
F&O data: FII bought 8579 contracts in index futures, Nifty PCR @ 1.37 Vs 1.01 previous. Banknifty PCR @ 0.95 Vs 0.97 previous.
Approach on Indices: Nifty giving clear break-out is heading towards fresh life-time high of 18887. Banknifty is expected to take decisive move after today’s policy
Market View: Stocks & sectors leading are changing fast, we see typical move where tail end of the stocks is showing huge rally which market usually witness in last leg of rally before formation of top. Just need to keep close look on any sign of trend reversal.
SGX Nifty @ 18832 up 20 points at 8:10 AM