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From data perspective, both Call and Put open interest for the coming weekly settlement is visible at ATM 16,200 strike, suggesting some consolation. However, with the recent up move, Call writers seem to be stuck, and closure among them will continue to provide support. Hence significant declines may not be seen in the near term.

What keeps the Fed awake late at night -- how to execute the first two “R”s rigorously without having to deal with the third R? Or will the worry of the third R push the Fed to abandon its tightening plans halfway? Let us dive in.Looking at the genesis of this inflation battle, there is a lot of merit in what some experts are echoing about the Fed being far behind the curve in its fight against inflation. Unfortunately, Fed had seriously under-estimated the risk of how far inflation will go.

Last week, India’s top IT exporter Tata Consultancy Services (TCS) reported a 5.2 per cent rise in its June quarter net profit to Rs 9,478 crore and failed to meet market estimates.

Vinod Nair, Head of Research at Geojit Financial Services, said crude prices have been falling over recessionary fears. “However, the fall has boosted the appetite for consumption, chemicals, logistics and OMCs as it will reduce the cost burden of these sectors. Falling crude prices will calm inflationary fears, reducing the burden on central banks to raise interest rates aggressively at upcoming meetings,” he said.

"Our customized Nifty Top 10 index has staged a reversal off the 2-year mean, bouncing off the confluence of support – suggesting leadership in index biggies. Over 45 per cent of stocks from the broader market universe (i.e. Nifty 500) are showing bullish set-ups. In last week of June, breadth was around 28 per cent in the above-mentioned universe, implying a pick-up in broad-based participation."

The US dollar index has been on the rise since the start of the year; however, the pace of gains has increased lately, putting pressure on commodities at large. Other safe havens like the Japanese Yen and Swiss France have failed to benefit as much.The US dollar has gained nearly 3 per cent since the start of the month and has tested the highest level since 2002. The index rose a total of about 4 per cent in the entire first quarter.

Throughout the last 400 days, markets have ensured that weak hands get eliminated, and only long-term investors remain in the markets for the long haul. However, we are seeing most of our investor community staying put, strengthening their portfolios with frequent capital injections, and gladly interacting with us with an optimistic outlook.

“My outperformance bet on India is not contingent upon whether the FII flows come or not. That is not the direction of the market. The first time the FII flows came in was the only nine year period in Indian stock market history that we saw zero returns. So, keep that aside.”

“We have to be brave enough to cannibalise our own success. That is really what will drive future success for us because we have to deliver products that the consumer wants. We will continue to deliver very strong products on the ICE front as we have done and in many ways even stronger products on the EV front and let the consumer choose where they want to go.”

Equity markets have faced many headwinds this year with the emergence of geopolitical tensions, inflation concerns and unabated selling by foreign funds. Experts said that there has been nervousness across the capital markets both domestic and globally mainly driven by these challenges.