RBI CUTS OCT-DEC GDP GROWTH FORECAST TO 6.8% FROM 7.4% EARLIER
RBI CUTS JAN-MAR GDP GROWTH FORECAST TO 7.2% FROM 7.4% EARLIER
Market View 6 Dec
▶️ Nifty had a volatile session on expiry day with multiple 300 point moves in 5 mins.
▶️ With DXY closing below, 20ema the index has room to stay in bullish hands and can head for 25125
▶️ Nifty has 24500 as key support zone till where it pulled back in closing session retracement
▶️ IT and Banking heavyweights continue to provide leading strength into index
▶️ Expect another volatile session as market is discounting CRR cut of 25bps and its announcements will set tone for expectation in market movements
▶️ Banknifty is near to all time high zone and it has room to cross go for 55k
▶️ Banknifty support at 52800-53200 zone from where index has led strength in to previous session
▶️ Banknifty continues having support from ICICI Bank and HDFC bank which is Trading near All time high zone
▶️ CRR cut will have sector wide impact on all financials as it will improve liquidity in hands of bank
https://shorturl.at/Ozm57
FII DII Data
FIIs Buy ₹8,539 cr (Buy 24,716 - Sell 16,176)
DIIs Sell ₹2,303 cr (Buy 13,395 - Sell 15,699)
in equities today
FII has 1bn $ net cash buying today with 3rd consecutive Day of Buying
What we are seeing is new regime, Options Premium are reflecting something unknown risk, plus high STT, and also higher margin on expiry day. Blanket options selling will be difficult henceforth.
Читать полностью…Market View 5 Dec
▶️ Nifty has crossed a major resistance zone of 24350 and formed a DOJI on Daily, Trend strength builds up as it sustains above the low of Doji
▶️ With BTC crossing 1Lakh $ mark, risk on asset gets very high momentum going forward.
▶️ Nifty heading for 24750 ahead of RBI meet, which 50% zone of entire trend with 24350 as support zone.
▶️ Nifty has weekly Expiry Today with highest call OI at 24800 and Highest Put OI Addition at 24500 , ATM Straddle of 24450 at 236
https://www.instagram.com/reel/DDJVey9i4py/?igsh=MXZkZWxocXlmMnB5ZA==
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With many FIIs on a holiday break, the majority of selling today is likely to be level-based follow-up watch yesterday low of 23870, as they’ve already reversed to net sell yesterday for the week
Meanwhile, Bank Nifty remains under pressure in the absence of strong buying interest.
RBI never goes right Inflation target, always under predict. Expect more Inflation and Slower Growth, Concerns are clearly shown by RBI Governor.
Читать полностью…Ready for volatility
3 Scenario
1. If nothing comes, market will tank sharply
2. If CRR Cut comes and no Repo rate cut, then market will rally then pullback
3. If both cut comes CRR + Repo, Super Rally
Congratulations to all those brave #NIFTY #options traders, if you are alive, you deserve bravery medal 🥇
Читать полностью…### BANKNIFTY
▶️ Banknifty after filling the upside gap is leading the charge as it heads for 53700 zone after breaking out of 2 month consolidation
▶️ Banknifty has support at 52500 which was earlier facing acting as resistance level in the gap area.
▶️ Banknifty has support from ICICI Bank and HDFC bank which is Trading near All time high zone and Axis is adding support in strength momentum
▶️ PSU banks is having followup of previous week bounce with CRR cut expectations ahead of RBI Governor meet. Many psu bank stocks have broke out of 200ema downtrend line and is breaking above swing high to make new higher high structure, marking reversal in the stock structures.
https://shorturl.at/Pb5u2
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- At 5.4%, India's growth rate slows to its lowest level in 21 months (falling short of the expected 6.5%)
- Economists may cut FY25 growth estimates to ~6.4%. Pressure now mounts on RBI to cut rates (Dec. 6) even as inflation stays high. Bond yields fell 5 bps to 6.76%.
- India's infrastructure output grew 3.1% YoY in October, up from 2.4% in September, according to government data. The sector, covering refinery products and electricity, contributes 40% to industrial production.
- The sharp dip is mainly due to India’s manufacturing sector which has taken a hit. It only grew by 2.2% in this quarter, which is a huge drop compared to 7% growth last quarter and 14.3% a year ago. Lower government spending is hurting the economy.
- Yet another key reason is the slowdown in private consumption. This is crucial because private consumption makes up about 60% of India’s GDP.. Multiple key indicators of urban consumption like car sales have seen a sharp decline in growth.
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### BANKNIFTY
▶️ Banknifty attempted to fill the upside gap and faced resistance from 52800 and took support at 518000.
▶️ The index is only having monthly expiry and volatility in index and option prices will change in the new regime.
▶️ Banknifty can attempt to fill downside gap also till 51300 and 52200 will be watched for resistance for this direction to play as Index still remains inside start of week range
▶️ PSU banks had spurious bounce into closing and followup of which will be rechecked if there is any news based strength in the sector to drive index.
https://shorturl.at/ZD23d