What Factors To Watch?
Global markets under pressure for 3rd straight day-Asian markets open negative but in a small range
Global risk off sentiment continues-as expected rate hike for December 19-by Bank of Japan-threat remains for unwinding of yen carry trade-Gold continues to rise on safe haven status
Tesla share hit record highs as Warner Brothers tells shareholders to reject Paramount offer and say yes to Netflix
US unemployment at 4.6% (Exp-4.5%)-Rate cut expectations improve but not so much-important data will be Thursday’s inflation numbers
Dollar at 2-month lows Yen strengthens against dollar. Dollar Index below 98 now.
Brent Crude continues fall after breaking below $59/bbl- 4 year low as supply glut comes-but Trump orders complete blockade of all sanctioned oil tankers inside and outside of Venezuala-spike does comes from technical lows
Rupee weakens past 91/dollar-despite RBI forex swap-as SL gets hits for traders
India-Insurance 2025 bill passed in Lok Sabha+Rare Earth Magnet Scheme notified
Nifty closes below 25,900 levels-as midcap, small-caps continue to bleed. No major support from any sector-defensives and large caps may offer refuge-Nifty Bank setup also suggest-range bound action-BUY DIP IF U ARE DISCIPLINED-OR ELSE-TAKE EARLY CHRISTMAS VACATION WITH FAMILY
FII remain net sellers for 14th session as FII shorts at 91% vs 89% (Highest in series)
Key Longs-Select Consumption (Defensives)