Wall Street ended another session with more than 1% cut, NASDAQ was down 1.69%. Core PCE Price index came @ 0.6% Vs estimate @ 0.4%.
Global market has renewed fear after concern of Core inflation, Core PPI & Core CPE price index showing pressure on inflation and renewed worries of more rate hike by US Fed.
ADANI group stocks continue to remain under pressure and retails participation has reduced in past few months.
VIX @ 14.18: cooled-off after testing level near to 16.
Approach on Indices: Indices trading at important support level and near to its 200-DMA, Nifty 200-DMA @ 17368 & Banknifty 200-DMA @ 39216, which will now be last hope for bulls. We see limited downside from current level and continue to wait for fresh triggers.
SGX Nifty @ 17519 down 23.50 points at 8:40 AM