Preparation for the next BLAAAST!!!

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What happened yesterday?             

Indian Market

Indian indices ended their five-day losing run on Monday, led by banking and metal stocks.

At close, the BSE Sensex rose 602.75, or 0.8%, to 80,005.04, while the NSE Nifty 50 climbed 158.35 points, or 0.7%, to 24,339.15.

• Shriram Finance SHRIRAMFIN topped the gainers on Monday, with shares jumping 5%, followed by Adani Enterprises ADANIENT and ICICI Bank ICICIBANK.

• Conversely, Coal India COALINDIA, Bajaj Auto ((NSE:BAJAJ/AUTO, BAJAJ_AUTO) and Axis Bank AXISBANK were the top laggards.

• In corporate news, non-banking finance company Muthoot Microfin MUTHOOTMF raised $3 million through the issuance of bonds, according to an Indian bourse filing on Monday.

FII net sold for  -3,228.08  crores

DII net bought for  +1,400.85  crores

US Market

US benchmark equity indexes closed higher Monday as traders awaited mega-cap technology earnings due later in the week, while oil prices slumped.

The Dow Jones Industrial Average rose 0.7% to 42,387.6, while the S&P 500 and the Nasdaq Composite advanced 0.3% each to 5,823.5 and 18,567.2, respectively. Among sectors, financials led the gainers. Only energy and tech closer lower.

• Tech giants Apple AAPL, Microsoft MSFT, Google parent Alphabet GOOG, Amazon.com AMZN, and Facebook parent Meta Platforms META are scheduled to report their latest quarterly financial results later this week.

• Roughly 37% of S&P 500 companies have logged results so far, with quarterly profits up 3.6% from a year earlier on 3.9% revenue growth, Oppenheimer Asset Management said in a Monday note to clients.

• In company news, 3M MMM shares rose 4.4%, the top gainer on the Dow and among the best on the S&P 500, as JPMorgan adjusted its price target on the stock to $165 from $160 and maintained its overweight rating.

• McDonald's MCD was one of the best performers on the Dow, up 1.4%. On Sunday, the fast-food giant announced the planned return of its Quarter Pounder hamburgers in all restaurants this week after ruling out beef patties as the potential source of a recent E. coli outbreak.

• Boeing BA announced an offering of 90 million common shares as the plane maker seeks to raise capital amid an ongoing labor strike that has adversely impacted its financial position. The company's shares fell 2.8%, the steepest decline on the Dow.

• Centene CNC was the second-worst performer on the S&P 500, down 4%, as Jefferies adjusted its price target on the stock to $68 from $72 and maintained its hold rating.

• West Texas Intermediate crude oil sank 5.3% to $68 a barrel. "Oil prices tumbled after Israel's retaliatory strike against Iran over the weekend bypassed oil and nuclear facilities and did not disrupt energy supplies," D.A. Davidson said in a Monday note to clients.

• The US 10-year yield increased 4.6 basis points to 4.28%, while the two-year rate gained 3.5 basis points to 4.13%.

• Gold was little changed at $2,755.10 per troy ounce, while silver increased 0.2% to $33.86 per ounce.

What to expect today?   

• Asian market trading in green where Japan in  +0.55% and Hong Kong +0.94%
  US Futures trading  at -0.16%

• GIFT NIFTY trading  at +0.17%, up by +40.5 points

• All the factors indicating a flat to gap up opening in the market.

NIFTY Technicals

In NIFTY high amount of call OI at 25,000 and put OI at 24,000, PCR at 0.84. NIFTY FUT indicating SHORT COVERING. And in case of BANKNIFTY, PCR stays at 0.75 and FUT with LONG BUILD UP.

Todays DAY Candle will be crucial, if it close below the FRIDAY's Low it can be a start of downtrend. At the same time, we mentioned about the higher time frame FVG, there is a context FVG creation at current levels. So the levels to be watchout is 24,225.55(NIFTY SPOT) and 24,232.3(NIFTY FUT). So today is a trend decider day, let's see how our plan works.

INDIA VIX falls to 14.2900

 All the best for the day.