Nifty May Open & Stay Depressed Amid Tepid Global Cues Following Hawkish Fed & Talk Of BOJ Tightening (?)

Market Mantra: 16/12/2016 (08:30)

Watch 8225-8275 & 8150-8090 Zone In Nifty Fut (Dec), Which May Open Around 8172 Today

Domestically, All Eyes Will Be On The Political Battles Out Of Demonetization, Progress Of GST, Any Announcement By The Govt For Some “Stimulus Gain” To Reduce The “Demonetization Pain”, forthcoming “Dream Budget” & Pace Of Remonetization Apart From Strength In USD

As par early SGX indication, Nifty Fut (Dec) may open around 8172 (-6 points), almost flat following neutral global/Asian cues; although overnight US stock Fut closed higher and DOW-Fut was almost at 20k in yesterday’s trading.

The theme is consistent strength in USDJPY, which may be staring for 122 zone, if sustained over 119 in the days ahead. As par some unconfirmed reports, BOJ may be thinking about some tightening in 2017 in order to keep the interest rate differential with Fed in balance, which may be more bad news for the “stimulus addicted” market (QQE).

Technically, NF needs to stay above 8205-8225* zone for any rebound towards 8275*-8325/8355 & 8395*-8415/8435 area for the day (under bullish case scenario).

On the other side, sustaining below 8180-8150* zone, NF may further fall towards 8090-8040* & 7980*-7900 area for the day. ( under bear case scenario).

Similarly, BNF (LTP: 18454), has to sustain over 18650 zone for any recovery towards 18800*-18950 & 19100*-19300 area (bullish case scenario).

On the other side, sustaining below 18600 area, BNF may further fall towards 18350*-18200 & 18100*-17900 zone for the day (bear case scenario).

 SGX-NF

 BNF