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We believe the PSU banking space is more of a play with the short-term perspective because many of them, whenever traction comes up and builds up in the space, definitely performs but with the short term perspective.

The Federal Open Market Committee will raise rates by 75 basis points for a fourth consecutive meeting when policymakers announce their decision at 2 p.m. in Washington Wednesday, the survey found.

Bharti Airtel’s operating profit is seen rising 5% on the back of better mix, lower spectrum usage charges and other operational costs. A broad-based growth across segments, strong India performance, and lower costs are likely to drive a 45% QoQ growth in consolidated net profit to Rs 2,327 crore, ET Now poll showed.

The analysis of Relative Rotation Graphs (RRG) shows that Nifty Bank, PSU Bank, and Metal Indexes are inside the leading quadrant; they are likely to relatively outperform the broader markets. The Nifty MIDCAP index is also inside the leading quadrant but it is seen sharply losing its relative momentum and heading toward the weakening quadrant.

Nifty rollovers seen at 76% this series, in line with the previous month, but below the 3 months average, and as per option chain analysis the monthly expiry PE writers are active at 17000CE - overall 60 thousand contracts, followed by 17500PE - highest fresh additions of 8 thousand contracts seen. CE writers make their way at 18000CE/19000/19500 strikes - overall over 30 thousand contracts each, with max fresh exposure seen at 19500CE as well.

For those who are new to this subject, technical indicators are based on mathematical calculations and are broadly divided into two categories: overlays and oscillators.

One stock in the Nifty has finally taken leadership, which is Reliance Industries. The largest weight in the Nifty has finally given a short-term breakout. The rest of the names like HDFC, HDFC Bank and ICICI, Kotak, etc, even the IT pack is still trendless and we are not seeing any momentum over there

There are many events lined up in the first week of the series now like the FED meeting, possible rate hikes, our domestic events of the RBI meet, and of course the war crisis.

Crude oil prices have recently fallen substantially from their peak which will help to reduce the current fiscal deficit. The easing commodity prices bode well for the nation as it will help to lower inflation and assist corporations to reduce their input costs, thereby improving their margins and earnings profitability. Further, the supply side challenges are gradually resolving and the worst seems to be behind for the India Inc. margins trajectory.

As per the World Bank report, global energy prices will continue to decline in 2023. The bank predicts a 11 percent decline in demand for next year after this year’s 60 percent surge due to Russia-Ukraine tensions. Slower global growth and Covid related restrictions in China could lead to a deeper fall in demand in the coming year.