Jun 9, 2025 6:18 AM IST
Editor’s Take | Prashant Nair Shares His Views On The Market
TRADE SET UP
All of last week’s gains (Nifty +1% WoW) came during Friday’s session
RBI’s front-loading cuts came as a dovish surprise !
Credit growth weak at 9.8% YoY (vs 19.5% a year ago), CRR cut aims to improve transmission
Market focus on NBFCs, PSU Banks & cheaper pvt banks
SPX finished > 6k for the 1st time since February
SPX +1.03%, Nasdaq +1.20%, Russell 2000 +1.60%
US jobs number alleviated concerns of an imminent economic slowdown
UST 2y yields ended above 4.00%, 10y yield +11 bps to 4.50%
Dollar Index +0.45% to 99.19
Brent Oil +1.8% to $66.49
Trump/Musk feud: All eyes on the passage of the “big, beautiful bill”
US-China teams to talk trade in the UK today
Nifty close above 25,116 will confirm further upsides
Immediate upside zone for Nifty is between 25,600-25,700
On the way down, Nifty has supports at 24,797 (20-day MA) & low of 24,502
Bank Nifty immediate upside level is at 57,594
On the way down, Bank Nifty support at 55,435 (20-day MA)