Today will be F&O expiry for March series as last trading day for current financial year 2022 – 23.
Wall Street in a relatively quite session ended with minor losses as there was no major news – positive or negative and no any economic data.
Market behavior in last few sessions as been quite surprising as any attempt of bounce in market is countered by selling pressure. US Market is trading near or above level before SVB crisis begins on 9-Mar-23. Indian market is trading below 9-Mar-23 level.
F&O data: FII after a day of short covering again added short position in Index futures with 156402 contract net short in index futures. Nifty PCR @ 0.80 Vs 0.85 previous. Banknifty PCR @ 0.91 Vs 0.76 previous.
Approach on Indices: F&O data shows built up on Nifty at 17000 strike price & Banknifty range seen from 39500 – 40000. Technical & F&O data shows another calm day, we see limited downside.
SGX Nifty @ 17000 up 9.50 points at 8:00 AM