Dollar Index @ 109.53, at fresh 20-year high on global Risk-Off.
GST collection in August stands at 1.43 lakh crores for July 2022. Robust tax collection figures show strength in economy.
Q1FY23 GDP data came @ 13.5% came lower than expectation of 15% & RBI expectation of 16.2%. Global rating agency & Brokerages houses downgrade full year GDP estimated.
VIX @ 19.87: was trading above 20 for significant part of day yesterday, although closed below 20, need to turn cautious.
Approach on Indices: Global cues continue to drive the momentum, Nifty above 17775 & Banknifty above 39759 could open further upside. We expect volatility to continue and if Nifty @ 17384 & Banknifty @ 38418 breaks – we will find shorting opportunity.
Market View: Global cues are negative Vs Domestic cues remains positive. Indices continue to trade in range with Mid-cap & Small-cap continue to outperform. We expect Mid-cap & Small-cap to continue its momentum as domestic cues remains optimistic.
SGX Nifty @ 17587 up 18.50 points at 8:00 AM