Japan inflation eases but stay above BOJ target, Nik, Dj,33946/-5/-0.01% Vix12.91/-2.2% US stock futures are flat on thursday, evening as wall street heads for losing week, BC300035/-37/-0.12%
Oil,69.4,plunges 4% as interest rate hike overweigh lower US supply Gold,1925, 3 months low, Bonds,3.785, rise as investors consider interest rate out look, Dollar, up on risk aversion, sterling .swiss frank slip despite rate hikes,
Nifty:18771.25/85.6/0.45%;Candle:OF<short day red; Bank Nifty:43724.85/134.35/0.31% Candle:OF,Short day red ; HB:OF, OGU,Hammer, 1646,
News:The SGX Nifty indicates a marginally higher start for the broader index with a gain of 51 points on Friday. SGX futures stood at 18,923. MPC minutes: Monetary policy needs to remain in ‘brace’ mode, says RBI DG Patra, Adani Group statements to investors draw US regulatory scrutiny.,Sebi bars Eros Intl MD and CEO from Board positions, pending investigations into fund diversion,
Events/Results:The National Stock Exchange has added RBL Bank to its F&O ban list for June 23 and retained BHEL, Hindustan Copper, L&T Finance Holdings, and Punjab National Bank on the list.
Market wrap up(DWM,T,N,E):The market snapped two days of gains amid volatility and fell nearly half a percent on June 22. The weak global cues after the hawkish tone by the Federal Reserve and selling in most sectors dented sentiment. The BSE Sensex dropped 284 points to 63,239, while the Nifty50 declined 86 points to 18,771 and formed a bearish candlestick pattern on the daily scale, but still defended support of 18,700. Intraday, the BSE Sensex hit a fresh all-time high, while the Nifty50 went very close to its previous record high again but failed for the third time this week.On the hourly chart, a distinct ‘Double Top’ pattern can be identified on the Nifty. This suggests that a breakout above 18,888 is necessary to sustain the upward trend, the low reached on Tuesday, around 18,650, coincides with the 20-day EMA (exponential moving average) and can be regarded as a significant support level. A breach below this level could trigger a breakdown of the Double Top pattern, potentially leading to further profit booking in the Nifty. Nevertheless, “considering the recent sessions where profit booking occurred, it is our belief that such corrections, whether in terms of time or price, should be viewed as healthy for the overall primary uptrend,” The Nifty Midcap 100 and Smallcap 100 indices also saw profit booking after an eight-day run, falling 1 percent and 0.8 percent respectively.
