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Daily Report 5-Jan-23

Indian market was down around 1% on major indices as well Midcap & Small-cap indices. FII sold 2620 crores in equity & fresh short created in F&O segment weighs on market.

Wall Street ended volatile session with gains of around half a percent, US Fed meeting minutes showed no rate cut in 2023.

Wall Street ended volatile session with gains of around half a percent, US Fed meeting minutes showed no rate cut in 2023.

U.S. economic data was mix: ISM manufacturing PMI data @ 48.4 Vs expectation of 48.50, number lower than 50 indicates contraction.  JOLTS jobs opening higher than market estimate.  

F&O Data: FII long / Short now stands at 35.94%:64.06%.  Net short by 41593 in Index futures.  Nifty PCR @ 0.72 Vs 1.06 previous.  F&O data indicates market in oversold zone.

VIX @ 15.20: if VIX move above 16, need to turn cautious.

Approach on indices: Although SGX Nifty indicate flat to positive opening, market internal indicate weakness and oversold zone.  Nifty should hold 18037 & Banknifty should hold 42573.

SGX Nifty @ 18144 up 33 points at 8:30 AM

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