Market outlook (7th Nov to 11th Nov)
US market closed the 1% up following a volatile session on Friday after mixed jobs report. Fed Collins hinted that the pace of future increases could be smaller but did not rule out another 75 bps hike in December.
US Market Ahead: Inflation data will be closely watched by the investors followed by several speeches by the Fed officials and midterm elections
European Markets: The euro edged up toward $0.99, as investors expects pivot despite Powell’s hawkish tone. Elsewhere, the ECB is set to tighten monetary policy further as inflation persists at higher level than expected.
European markets ahead: Investors will brace the UK Q3 GDP growth rate, Eurogroup meeting, retail sales & S&P global construction PMI for the Area
Indian markets edged higher despite Fed's guidance on future rate hikes supported by metals after China’s statement of planning its transition away from its zero-Covid policy. In addition, India’s Manufacturing PMI edged above expectation to 55.3 in October 2022.
Indian markets ahead: Markets likely to open on positive sentiment amid better-than-expected results of India’s largest bank- SBI that reported 74% increase in Net profit on YoY basis. In absence of Domestic cues, market to act on Global Indicators and Q2 earnings
Technically
Nifty showing positive momentum on oscillators with closing above at breakout of cup & holder formation 18390/ 18592 to act as a resistance zone while resistance will remain 18080 followed by the derivate support level of 18000 where 8.6Mn put writers will be supporting the Index.
US market closed the 1% up following a volatile session on Friday after mixed jobs report. Fed Collins hinted that the pace of future increases could be smaller but did not rule out another 75 bps hike in December.
US Market Ahead: Inflation data will be closely watched by the investors followed by several speeches by the Fed officials and midterm elections
European Markets: The euro edged up toward $0.99, as investors expects pivot despite Powell’s hawkish tone. Elsewhere, the ECB is set to tighten monetary policy further as inflation persists at higher level than expected.
European markets ahead: Investors will brace the UK Q3 GDP growth rate, Eurogroup meeting, retail sales & S&P global construction PMI for the Area
Indian markets edged higher despite Fed's guidance on future rate hikes supported by metals after China’s statement of planning its transition away from its zero-Covid policy. In addition, India’s Manufacturing PMI edged above expectation to 55.3 in October 2022.
Indian markets ahead: Markets likely to open on positive sentiment amid better-than-expected results of India’s largest bank- SBI that reported 74% increase in Net profit on YoY basis. In absence of Domestic cues, market to act on Global Indicators and Q2 earnings
Technically
Nifty showing positive momentum on oscillators with closing above at breakout of cup & holder formation 18390/ 18592 to act as a resistance zone while resistance will remain 18080 followed by the derivate support level of 18000 where 8.6Mn put writers will be supporting the Index.