US Jobs data came mix on Friday with moderate growth in hourly earnings growth, Wall Street rallied over 1% on hope of pause.
SBIN earnings beat market estimate on all parameters, market will react to earnings today, most brokerages upgrade target price in range of 710 to 770. SBIN closed below 600 on Friday.
Market will react to earnings declared post market hours on Friday for stocks: TITAN, MARICO, TVSMOTORS, INDIGO & BRITANNIA.
VIX @ 15.66: within comfortable zone.
Approach on Indices: Indices approaching breakout on upside, SBIN will react to its numbers and Banknifty could test recent high of 41800 and Nifty indicative opening around 18250 will be within 2% of all time high of 18604 and we expect to test in near term.
Market View: Last few days of result season with many PSU to declare their numbers, need to be in focus. Global cues will continue to play a larger role as far as sentiment is concern.
SGX Nifty @ 18295.50 up 92.50 points at 7:45 AM