Traders play a waiting game ahead of crucial US inflation report to trickle in at 7 PM IST.

Review & Preview @4PM —— Wednesday, December 11th 2024

NIFTY (+32, 24642)
Sensex (+16, 81526)
Bank Nifty (-186, 53391)

# Nifty trades above the dotted lines as aggressive bullish traders play a waiting game ahead of crucial US inflation report to trickle in at 7 PM IST.

# The median estimate for year-over-year CPI is 2.7%. October CPI was 2.6%, consistent with the median estimate.

According to the CME Group’s FedWatch Tool, there is an 86.1% probability the FOMC will cut the federal funds target rate by 25 basis points, or 0.25%.

# The Federal Open Market Committee’s interest rate policy decision is on December 18.

# Meanwhile, India’s CPI will be wired this Thursday, December 12th and WPI on Friday, the 13th .

# Vishal Mega Mart IPO subscription status: Issue booked 37% on Day 1;

The retail individual investors’ category was leading with 44 percent subscription, while non-institutional investors’ quota fetched 68 percent subscription.

# Long Story short: All eyes will be on FII after today’s bullish consolidation.

# Sentimental Overview:

# Our call of the day suggests to spy with one big eye on the FII activity.

# It was nice to see FIIs on the buy side despite yesterday’s choppy trade. This December month, the FIIs have been net buyers to the tune of Rs 13943.82 crores.
Please note, in the cash segment the FIIs were net sellers to the tune of Rs 1.6 lakh crore in the October-November time frame.

# Technical Overview:

Nifty breaks 3-day losing streak.

Technically speaking, on the long term charts, Nifty and Sensex are still at oversold conditions with immediate upside hurdles seen at psychological 25000 mark while Nifty’s support placed at 24250 mark.

Nifty’s 200 DMA at 23757 mark

# Outperforming Nifty Sectors:
Nifty CONSUMER DURABLES (+0.57%)
Nifty FMCG (+0.42%)
Nifty HEALTHCARE (+0.37%)

# Underperforming Nifty Sectors:
Nifty PSUBANKS (-0.89%)
Nifty MEDIA (-0.51%)
Nifty PVTBANKS (-0.25%)

# Bulls of the day:
TRENT (+2.50%)
BAJFINANCE (+2.35%)
BRITANNIA (+2.10%)
SHRIRAMFIN (+1.90%)
HEROMOTCORP (+1.39%)

# Bears of the day:
JSWSTEEL (-1.48%)
ADANIPORTS (-1.35%)
NTPC (-0.88%)
SBIN (-0.66%)
AXISBANK (-0.58%)
(Source NSSEINDIA.com)

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