@AlliesFin
Nifty expected to open higher after a much expected pull back near 10000 levels. Watch for some more give backs towards 9880 if Nifty fails to cross over 10159.
Nifty Bank also seeing some correction (as indicated yesterday) expect a support zone near 19800 if Bank Nifty fails to take out 20980.
US markets saw some correction after a big rally that took indices close to or above the life highs. Dow slipped close to 1%, S&P just under 1%, Nasdaq managed to escape the sell-off with minor gains. Russell 2000 gave up close to 2% from previous close. There was some rotation from economy facing stocks to tech heavy Nasdaq.
Crude futures also eased a bit with WTI trading below 39 and Brent below 41. US dollar index eased further near 96.34 and Cboe vix rose almost 7% nearing 27. US 10 year also corrected near 0.82
Markets not expecting any rate action from Fed on the back of some improvement in the macros. But focus would be on the commentary from Fed Chair. The meet is scheduled for today.
On other macros, China CPI rose less than expected and Eurozone GDP contracted as per expectations.
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