Uncategorized Archives - Equichain Wealth Advisors

Government cuts export duty on steel & Iron ore and hikes import duty on raw material. NMDC stands out to major winner of policy change.

Bank credit growth for the fortnight ended on 4-Nov-22 comes at 17%, deposit growth @ 8.2%. RBI pegs Q2 GDP growth at 6.1% to 6.3% and FY23 growth forecast maintain at 7%.

VIX @ 14.39: seen at lowest level since March 2020. Before March 2020, VIX range use to be around 12 – 16.

Approach on Indices: SGX Nifty indicate weak opening, late recovery on Friday could be offset. Its time for some correction / consolidation.

SGX Nifty @ 18261.50 down 86 points at 8:20 AM

Click on the attachment to read the full report:

21-Nov-2022-Daily-Report.pdf

US Inflation data released on Friday triggered global sell-off and Indian market was down by 2.64% to 3.88%.

Wall Street continue weak trend from Friday and was down by 2.79% to 4.68%. S&P 500 confirms bear market – is down more than 20% from its peak.

Bitcoin fell as much as 14% on Monday after major U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers citing “extreme” market conditions.

VIX @ 22.36: was up 14.26% yesterday and in case VIX moves above 25 ahead of US FOMC meeting outcome – expect heavy volatility.

Approach on Indices: F&O data indicates highly oversold zone, but overall trend and technical indicates downward bias. Any bounce back to be used as shorting opportunity till US FOMC outcome.

SGX Nifty @ 15697.50 down 81 points at 8:20 AM.

Click on the attachment to read the full report:

14-Jun-2022-Daily-Report.pdf