🌎 FII were net sellers with total sales amounting to Rs -6994.9 on 09, May 2024

🇮🇳 DII were net buyers with total sales amounting to Rs 5642.5 Cr on 09, May 2024

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US markets remained steady ahead of key inflation data and earnings reports, with the New York Fed survey showing a rise in consumer inflation expectations to 3.3.

US Treasury yields rose on higher inflation expectations, impacting gold prices due to its non-interest-bearing nature.

Asia-Pacific markets mostly rose despite Wall Street's stumble, with Japan's Nikkei 225 up 0.7%, South Korea's Kospi up 0.18%, and Hong Kong's Hang Seng futures indicating further gains.

The dollar index edged up slightly to 105.244.

Brent crude increased to $83.52 a barrel, up 0.19%.

The India VIX index surged 16.4% to 21.49 amid election uncertainty, with analysts comparing this rise to pre-election volatility in 2019 and 2014, suggesting potential for market correction and strategic long-term investments.

Nifty may face resistance at 22,200-22,300; closing above 22,300 can lead to 22,500-22,600.

Support levels are at 22,000-21,900 and 21,800 (89 DEMA).

A bullish Hammer candlestick pattern suggests a potential reversal’s.

Nifty closed at 22,104 after a significant recovery on May 13.

Immediate support at 21,900, followed by 21,827 and 21,708.

Resistance at 22,138, followed by 22,211 and 22,330.

🌎 FII were net sellers with total sales amounting to Rs -4498.9 on 13, May 2024

🇮🇳 DII were net buyers with total sales amounting to Rs 3562.8 Cr on 13, May 2024