Let’s begin with what the cues were overnight. Wall Street saw a strong close, with Dow Jones ending 0.5 percent up, S&P 500 up almost 1 percent, while the Nasdaq continued to march forward.Nasdaq was up 1.5 percent, led higher by Apple. After it unveiling the Vision Pro last week, the Apple stock has been on the tear. Yesterday as well it hit a fresh all-time high with the market cap of the tech major nearing almost $3 trillion.That’s not all, we have a lot of data to watch out for this week. Starting with tonight itself. All eyes will be on the US May inflation data where you're expecting 4 percent inflation in May, which would be an increase of 40.1 percent month-on-month. This is extremely important largely because the US Fed meet outcome is contingent on the way.The Nifty has been ranged around 18,600-mark.The important part is that we found resistance at levels closer to 18,700, whereas support has come in as low as 18550 itself.

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13 Jun 2023