Wall Street traded in narrow range as month end with all major economic data for February are out, next set of data starts from 1st week of March.
F&O data: FII added 8472 short in index futures contract, Long: Short exposure stands at 17.45%:82.55%. Nifty PCR @ 0.72 Vs 0.78 previous. Banknifty PCR @ 1.04 Vs 0.62 previous.
Global risk indicator: Dollar index cooled-off from above 105 to closed below 105 level. US 10-year bond yield stable @ 3.92%.
VIX @ 13.88: back to below 14, indicate potential short covering.
Approach on Indices: SGX Nifty indicate flat opening, technical setup do indicate potential short covering rally from current level. Nifty @ 17376 & Banknifty @ 39970 remains important level to hold on closing basis.
SGX Nifty @ 17490 up 2 points at 8:20 AM