Banknifty outperformed Nifty – as expected from Wednesday’s EDO F&O data. Upside may have been capped due to weekly Index options expiry.
Crude oil & Metal stocks bounce after China announce $220 billion stimulus package with unprecedented bond sales.
VIX @ 19.20: Finally, below 20 – positive for market.
Approach on Indices: Will be opening right at resistance level. Reduce long and short only in any sign of weakness. Resistance level on Nifty @ 16255 & Banknifty @ 35646.
Market View: TCS earnings today, US Economic data due today. Gap up opening – reduce long exposure & Book profit by 10% to 20%.
SGX Nifty @ 16278.50 up 145.50 points at 8:00 AM.
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