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Daily Report 17-Aug-22

Indian market closed at recent high as bulls holds the ground. HDFCBANK – HDFC & ACC & AMBUJA were up are CCI gave clearance the both the deal.

Crude oil below January 2022 level on potential US-Iran deal. Natural Gas prices in US jumps 5%, highest since 2008.

Crude oil below January 2022 level on potential US-Iran deal.  Natural Gas prices in US jumps 5%, highest since 2008.

US Economic data & Event: Retail sales & Core Retail sales and US FOMC meeting minutes to be released today.

Indian bond & Currency market will open after long weekend.

VIX @ 17.68: First sign of reversal will come from VIX.  Will be watchful of move above 20.

Approach on Indices: Indices continue to rise without even a small reaction of 1% – 2%.  We will continue to remain cautious, such uptrend seen in last 10 trading days is broken by sharp down move.

Market View: We continue to focus on Mid-Cap & Small-Cap to play momentum, as result season concludes we would focus on companies were earnings are positive and stocks are showing momentum of second round.

SGX Nifty @ 17898 up 42 points at 8:00 AM

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