Asia markets trade mixed as investors digest more economic data from the region, Nik,29989/146/0.49% Dj,33012/-336/-1% Vix17.99/5% US stock futures slightly higher as wall street focusses on debt ceiling negotiations, BC
Oil,70.43, dips as weaker china economic data offsets IEA demand forecasts, Gold,1995.8, retreats as US data, Fed speak sow doubts on rate cuts, Bonds,3.528, yields rise as traders await clue on US debt ceiling negotiations ,digest new data, Dollar, gains after US retail sales ; debt ceiling in focus,
Nifty:18286.5/-112.35/-0.61%;Candle:OGU, Short day red; Bank Nifty :43932.7/-168.4/-0.38% Candle:Of,short day red ; HB:OF,Long day red,1647.
Nifty :Supp Rest
Banknifty:Supp Rest .
SGX Nifty:% FII Long49%FutCash;1407;Opt98%
OI data Nifty ( max pain W18300M)
OI data Bank Nifty Nifty(max pain W M)
News:The SGX Nifty indicates a negative start for the broader index with a loss of 40 points on Wednesday. SGX futures stood at 18,289. Janet Yellen warns US default could trigger recession, ‘break’ financial markets, Tube Investments consolidated net profit zooms 74% YoY,
Events/Results:Jubilant FoodWorks, REC, Deepak Fertilisers & Petrochemicals Corporation, Devyani International, Endurance Technologies, Eris Lifesciences, Glaxosmithkline Pharmaceuticals, Honeywell Automation India, Jindal Saw, JK Tyre & Industries, Jindal Stainless, MTAR Technologies, Quess Corp, RailTel Corporation of India, Sterlite Technologies, Thermax, Vaibhav Global, and Whirlpool of India will be in focus ahead of quarterly earnings on May 17.
The National Stock Exchange has added Balrampur Chini Mills and Manappuram Finance, and retained Delta Corp, GNFC, and Punjab National Bank on its F&O ban list for May 17.
Market wrap up(DWM,T,N,E):The market snapped two-day gains with the benchmark indices losing six-tenth of a percent on May 16 as the selling was seen in auto, banking & financial services, select metal, pharma and FMCG stocks. “A long bear candle was formed on the daily chart, which indicates the formation of a Bearish Engulfing pattern, not a classical one. Presently, the market is repeatedly testing the hurdle of around 18,300-18,400 levels and not able to break decisively above it so far,” Having moved up swiftly from the higher lows of 17,553 on April 21 and the placement of key overhead resistance at the highs, he feels the chances of a sizable downward correction are likely in the short term. “Immediate supports are placed around 18,100-18,050 levels. Any sharp up move above 18,400 levels is expected to bring bulls back into the action,”
