Wall Street had flat session after stellar rally on Friday, market awaits CPI & Core CPI inflation data due to be released on 10-May-23. US 10-year bond yield back to 3.50% expect higher CPI data.
In absence of any major global cues, market will continue to focus on corporate earnings, stocks in focus would be PIDILITIND, MGL, ANDHRAPAPER, CARBORUNIV & VIPIND.
F&O data: FII bought 13337 contracts in index futures, FII long: short position in Index future now stands at 49.28%:50.72%.
VIX @ 12.64: expected to move towards 14 level.
Approach on Indices: SGX Nifty indicate flat opening, we expect indices to trade in range, Nifty range seen 18150 – 18400 & Banknifty range seen 42600 – 43700 for this weekly expiry. Market almost recovered Friday’s fall indicates strength in market and will continue to remain strong unless there are fresh negative cues.
SGX Nifty @ 18337 down 13 points at 8:25 AM