Global Market meltdown overnight after US monthly job data came yesterday. NFP added 263K vs 250K, whereas unemployment rate fell to 3.5%, whereas Manufacturing & Price Payrolls added substantially more than expected 22K & 288K respectively.

With 10Y Yields rising again near 4%,whereas 2Y rose more than 2%. Market is now expecting another hike of 75BPS and recessionary concern turned the last few session rally in to negative. USDINR hit fresh ATH high with Dollar index back again 112.60. #Forex

Going ahead, risk-off is on and follow up selling on Monday could trigger another 5% in market. #NIFTYBANK #NIFTY50 may find support around 17000-16867 and 38500-200. #MacroEconomy