WHAT FACTORS TO WATCH?
Global sentiment-still on risk on mood as Dow Jones/S&P 500 close at record levels-aided by memory stocks (US AI trade+Fed rate cut expectations)
Trump-Venezuala to send US upto 50mn barrels of oil (sanctioned)-Brent Crude cracks 1.7% to $60.7/bbl+Dollar Index at 98.6-strenghtens after 1 session+Venezuala stock markets up 56% in last 2 days
Asian markets see profit booking-Japanese equities slip amid rising tensions-Largely negative opening for Nifty expected
Trump on PM Modi- "I have a very good relationship with him. He's not that happy with me because you know they're paying a lot of tariffs now because they're not doing the oil.
Silver, Copper, Gold-Continue Rally as technical cool-off seen in Bitcoin which fell 2% below $92k (Slight pause being seen currently)
Nifty closes below 26200 levels- Nifty-10EMA 26126 key level -Nifty Bank setup looks strong-May see some shorts covering in Reliance..but a range bound movement likely..medium term technical strong as focus shifts to Q3 earnings season from next week
FII remains sellers for second day, FII shorts at 87% vs 89%, India VIX above 10 for second day
Rupee stable after 4 days of weakening-at 90.2/$
Key Longs-Pharma, Select Consumer