FII was buyer in yesterday’s trade could be positive, it is sign of strong Indian fundamental and any positive trigger from global market will help surpass recent high on Indices.
WTI Crude oil below $85 & Brent Crude oil below $90.
Dollar Index below 110 level. US 10-year bond yield @ 3.25% – cooled-off from high.
VIX @ 19.37: Multiple attempts above 20, failed to close above 20.
Approach on Indices: Global cues are positive, Nifty may test 17775 and Banknifty could test 40000 level, next up move is expected if today’s gain is sustained and ECB outcome are positive.
Market View: With Mid-cap & Small-cap could continue to do well with stock specific approach. Time to go LONG with review Nifty @ 17525 & Banknifty @ 39415 with hedge position preferred.
Stocks in focus: IT & RELIANCE rally needed along with Banks for sustainable break out.
SGX Nifty 17754 up 123.50 points at 7:55 AM