STOCK Tricker

SELL M&M INTRADY @ 1253 TGT 1245-1235 SL 1258

INDEX
NIFTY 18660.30 +0.28%
NIFTY FUT. 18738.40 +0.18%
SGX CNX Nifty Index Fut. 18677.00 -0.73%

OUTLOOK
Market is likely to open in flat note amid muted global cues, and Asian stocks followed US equities.

GLOBAL MARKET
Asian stocks followed US equities after the Federal Reserve signaled interest rates will climb higher than anticipated next year. The Federal Reserve’s policy committee raised its target interest rate by 0.50% point, bringing the fed-funds rate target range to 4.25% to 4.50%. While this was a smaller hike from the previous four increases, the Fed indicated that it will keep rates higher through next year, and hold off on cuts until 2024. Oil rose to more than $77.40 a barrel as investors bought up risk assets after US data pointed to slowing inflation. Gold prices too ended lower as treasury yields tick higher. Fall in bond yields and US dollar are acting as favorable factors today.

FIIs/ FPIs
As per provisional figures, Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs) bought shares worth net Rs. 372.16 crore and Domestic institutional investors bought shares worth net Rs. 926.45 Crore on 14th December 2022.

Today Market is expected to open around 18600-18650 levels and is expected to trade in the range of 18400-18800 levels for the day.

Buy Zone Above 18700 TARGET 18780 SL 18650

Sell Zone Below 18600 TARGET 18520 SL 18650

Support 1-18630
Support 2 18660
Resistance 1-18695
Resistance 2-18725

View for the day: Down.

Strong Sectors for the day: Realty, Metal, I.T, Media, Pharma.

Weak Sectors for the day: FMCG, Bank, Finservices, Infra, PSU Bank.