📰 Market Cues
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Nifty likely to see a steady open as US-India trade talks improve and FIIs gradually add longs.
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However, major short covering may only kick in above 25,150 (21st Aug high).
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Gift Nifty signals a flat start.
🌍 Global Setup
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Wall St: Dow -0.48%, Nasdaq +0.03%, S&P +0.3%.
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Tech sentiment stayed firm as AI stocks (Broadcom, AMD, Micron) rallied post Oracle’s strong cloud outlook (+35% yesterday, +50% in 2 sessions).
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Key US CPI data tonight – street expects 0.3% MoM / 2.9% YoY.
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FOMC meeting next week adds to event risk.
📊 FII & DII Flows
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DII: +₹5004 Cr (includes ~₹6100 Cr Kotak Bank block deal)
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FII: -₹115 Cr net selling, but long exposure improving:
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Sep 7: 7.4%
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Sep 8: 8%
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Sep 9: 8.7%
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Sep 10: 10.2%
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🔑 Technical Landscape
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Nifty: Above 50-DMA (24,921) – momentum positive.
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Bank Nifty: Near 20-DMA (54,685) – key level to watch.
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Nifty IT: Just above 50-DMA (36,161) – sectoral support.
Spot Levels (11 Sept):
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Nifty 50: Support 24,800 / 24,700 | Resistance 25,000 / 25,100
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Bank Nifty: Support 54,300 / 54,000 | Resistance 54,800 / 55,000
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Nifty Fin Service: Support 26,000 / 25,900 | Resistance 26,200 / 26,300
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Sensex: Support 81,000 / 80,800 | Resistance 81,800 / 82,000
📌 Stocks in Focus
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Infosys (INFY): Board meet today to consider a share buyback.
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Tega Industries (TEGA): To acquire Molycop with Apollo Funds for $1.4 Bn – acquisition to boost revenue 8x & EBITDA 5.5x.
👉 Overall, market bias remains constructive above 24,800, but meaningful rally hinges on a break past 25,150. Traders should track US CPI tonight and Infosys board outcome closely.