*Market Mantra: 03/01/2017 (08:30)*
*Watch 8150-8100 & 8260-8295 Zone In Nifty Fut (Jan), Which May Open
Around 8190 Today*
As par early SGX indication, Nifty Fut (Jan) may open around 8190,
almost flat, despite positive Asian cues supported by better than
expected China Caixin MFG PMI data (51.9 against estimate of 50.7;
prior: 50.9).
Domestically, all eyes will be on the service PMI for India to be
released tomorrow after tepid sets of MFG PMI & Core sector data (Oct)
flashed yesterday. On MOM basis, core sector data may be very
disappointing even before the month of demonetization in Nov.
Now, SBI has almost passed 2% rate cut from Jan’15 against RBI’s overall
repo rate cut of 1.75% so far, all eyes will be on the RBI’s Feb
monetary policy for an bigger rate cut by 0.50% (?).
*Hints for actionable trading ideas at index level:*
*Technically, NF has to sustain over 8225 zone for further rally towards
8260*-8295 & 8335*-8400 area for the day (under bullish case scenario).*
*On the other side, sustaining below 8150 area, NF may further fall
towards 8100*-8040 & 7980*-7940 zone for the day (under bearish case
scenario).*
*Similarly, BNF (LTP: 18031) need to stay over 18000 area; otherwise it
may fall towards 17900*-17750 & 17600*-17500 zone for the day (under
bear case scenario).*
*On the other side, for any strength, BNF needs to sustain over 18100
zone for further rebound towards 18200-18300* & 18400*-18700 area for
the day (under bullish case scenario).*
<https://1.bp.blogspot.com/-XCjzYo4BEz0/WGsgUdvv0zI/AAAAAAAAKBw/BPBTRpgMDigALRaFTfFLIeyvcnB5FpyKwCLcB/s1600/SGX-NF-03-01-2017.png>
NF
<https://1.bp.blogspot.com/-6MX8NIOxqh0/WGsgV1JyxMI/AAAAAAAAKB0/RlqR-BLXHLca4n1TBCBLY50UPOuZMMp7gCLcB/s1600/BNF-02-01-2017.png>
BNF
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Thanks & Regards,
Asis Ghosh
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