Fall in Indian market was led by banking & financials stocks as quarterly business updates by HDFCBANK & BAJFINANCE disappointed.
Wall Street ended the day with more than 1% cut on major indices, NASDAQ was down by 1.47%. ADP Non-farm employment change data came much strong than market estimate.
US Economic data – Market reaction. Strong data – Market corrects & Weak data – Market rallies. Market guessing next move by US Fed.
VIX @ 14.98: will turn cautious once VIX goes above 16.
Approach on Indices: Recent lows made on 15 – 16 December on Nifty @ 17775 & Banknifty @ 41597 remains critical level, below these indices could be in for another round of sell-off. Uptrend resumes on Nifty above 18199 & Banknifty above 43176.
SGX Nifty @ 18067.50 up 2.50 points at 8:40 AM