Wall Street rallied on Friday and yesterday witness some profit booking as all eyes are on US Fed meeting outcome on 3-May-23.
US regulator seizes First Republic bank and sell assets to JP Morgan chase & Co on Monday, in a deal to resolve the largest U.S. banking failure.
GST Revenue Collection for April Highest Ever at Rs 1.87 Lakh Crore, GST Collection for March 2023 was at 1.60 lakh cores and April 2022 was at 1.67 lakh crores.
VIX @ 10.95: historic low level of VIX, remains our only concern.
Approach on Indices: Indices are trading in overbought zone, further rally from current level needs to be supported by positive trigger and short covering. Nifty resistance zone 18137 / 18199 & Banknifty resistance zone 44020 / 44151 level. Nifty support level @ 17842 & Banknifty key support level @ 42603.
Stocks in focus: KOTAKBANK, EICHERMOT, IDFCFIRSTB & RELIANCE.
SGX Nifty @ 18240.50 Vs Friday’s closing of 18112.15 at 8:05 AM