A head of Market: 10 things that will decide D-Street action on Tuesday
Here's how analysts read the market pulse:
«The highly anticipated Jackson Hole meeting didn’t bring much surprise. The Fed chair expressed satisfaction with the progress of policy measures and reiterated its commitment to managing inflation within target bounds.
This has raised expectations of a rate hike during the November Fed meeting. Global markets traded on a positive note, led by Asian peers, as China's measures to support the property sector boosted sentiment.
On the domestic front, all major sectors, along with mid and small caps, remained positive, except for the IT sector, which faced concerns related to potential rate hikes,” said Vinod Nair, Head of Research at Geojit Financial Services.
“Nifty saw Put writing today at 19,300 and 19,200 levels for this week's expiry. Markets for the next few days are likely to trade between 19,000 on the downside and 19,600 on the upside.
Bank Nifty open interest data suggests that this week’s expiry is likely to happen between 44,000 on the downside and 44,800 on the upside. We expect Bank Nifty to be the stronger index as we head into this week’s expiry, owing to a demand level being present at its current price level,” stated Rahul Ghose, Founder & CEO – Hedged.
That said, here’s a look at what some key indicators are suggesting for Tuesday's action:
US market
Wall Street's main indexes rose on Monday as a pullback in Treasury yields boosted megacap growth stocks ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.
Apple, Microsoft, Alphabet and Tesla rose between 0.5% and 1.3%, as the yield on the U.S.
