08th March 2023 #Nifty Intraday Levels and Pre-Market Reports

Nifty last close : 17711.45 (+0.7%)

On Monday, Indian stock rallied around 0.5% to 1% but fell from day’s high
Sensex rose 415.49 points or 0.69 percent to 60,224.46
Nifty settled 117.20 points or 0.67 percent higher at 17,711.50
Midcap index rose 0.7 percent while the smallcap index added nearly a percent
Except metal, realty and PSU Bank, all other sectoral indices ended in the green
India VIX ended around 12.20
FIIs net bought 721 crore while DIIS net bought 757 crore on March 6
US Futures flat trade after following sell-off in the cash market
US markets ends with deep cut on Tuesday
Frontline indices fell up to 1.5% to 2%
Very Hawkish comment from Fed chair Powell
Fed’s Powell sees long term damage if US debt ceilling not raised
US 10-year yield hovers around 4%
US 2-year yield tops 5% and hits highest level since 2007
Brent slipped to $83/bbl over rate hike fears in US
Gold prices fall below $1810/oz
Asian markets largely lower in early trade
Hangseng slips 2% and Nikkei up 0.2%

SGXNifty indicates a negative opening for the index
Likely to witness highly volatile will be expected during the day
However, Nifty is facing a intraday resistance 17735, 17760 and 17800
Stay caution at higher levels!!
On other side, Nifty can be considered as supports as 17675, 17640 and 17600

Updated: 08.57 am / 08th March 2023