Wall Street was down by 1.4% to 1.93%, reacting to strong ISM Service PMI came at 56.5 Vs estimate of 53.50.
Recent trend is Good economic data = Market correction and vise-a-versa anticipating US Fed ‘s next move. Dollar Index bounce from lower level to 105, Gold was down more than 1.5% to $1786.
Crude oil prices cool-off from day’s high as bet for hawkish US Fed continues, FINNIFTY weekly options expiry today.
VIX @ 13.73: likely to increase from here on towards 15 – 16.
Approach on Indices: Fresh entry on Nifty @ 18421 & Banknifty @ 42157 would be preferred, tomorrow RBI MPC outcome could provide clear directional move.
Market View: Domestic momentum remains healthy, reaction on exit poll could remain muted but tomorrow ‘s RBI MPC outcome & election result on 8th December could provide some directional move ahead of US Fed meeting next week.
SGX Nifty @ 18713 down 97 points at 8:10 AM