Wall Street consolidation continues, MICROSOFT earnings above market estimate. Yesterday NYSE witness technical glitch and trading was impacted.
F&O expiry for January series: this month continue to remain in narrow range and today’s cues are weak. Nifty PCR @ 0.81 & Banknifty PCR @ 0.75.
Key earnings to watch out for BAJAJ-AUTO, DLF, DRREDDY & TATAMOTORS.
VIX @ 13.66: expect to trade in range of 14 – 16.
Approach on Indices: Indices continue to face resistance around upper end of the range on Nifty @ 18202 & Banknifty @ 43176. F&O expiry will limit major move ahead of holiday tomorrow.
Market View: No budget rally has been seen so far, whether there is some pre-budget rally as 3 trading session after today’s session in key event to watch out for. There has been no major negative news as well which could trigger major sell -off.
SGX Nifty @ 18100 down 34.50 points at 8:20 AM