FII net seller by 6792 crores in equity, highest single day sell-figure in recent times, FII net seller in equity in January 2023 is now at 36025 crores.
Abu Dhabi’s IHC to invest 3260 crores in ADANI enterprise FPO. Today will be important day for ADANIENTER FPO and market sentiment.
IMF raises economic outlook for first time this year, world GDP likely to be 2.9% Vs 2.7% projected earlier.
VIX @ 17.71: expect volatility to continue going into event tomorrow
Approach on Indices: Earlier Indices found major support on Nifty @ 17775 & Banknifty @ 41597 and once this level were broken, indices tested lower level. Now this level could act as resistance level. Nifty resistance zone 17775 & 18041 & Banknifty around 41024 & 41597.
Market View: Going into budget and US Fed meeting tomorrow evening, we expect some relief rally going today as ADANIENTER FPO news. We would prefer to increase cash level by 25% to 35% as per conviction as wait for this event to conclude.
SGX Nifty @ 17802 up 97 points at 8:15 AM