NIFTY TREND: BEARISH
NIFTY SPOT LEVELS
SUPP 1: 7545
SUPP 2: 7460
RES 1: 7645
RES 2: 7710
Sensex slips over 100 points, below 25K; Nifty50 slips below 7,600
The BSE Sensex and NSE Nifty opened in red on Monday tracking weak global cues. Sensex opened 108.83 points down at 24,935.60, while Nifty50 index opened 52.25 points down at 7,558.20
GAIL, Hero MotoCorp, Maruti, HUL and Sun Pharma are top gainers while Tata Motors, TCS, M&M, ONGC and Axis Bank are among losers in the Sensex.
INDIAN MARKET OVERVIEW
The market ended lower dragged by autos and banking shares. Nifty future down by 82 points to close at 7627.
The 30-share BSE Sensex
down 207 points at 25044. The market breadth was weak as about 988 shares
advanced against 1661 declining shares on the BSE.
The Reserve Bank of
India (RBI) is pressing ahead with its aim to clean up banks' balance sheets by
March 2017 and towards that, it may make certain alterations to steps it has
taken so far to tackle the NPA.
The rupee again breached
the 67-mark by depreciating 18 paise to 67.06 against the dollar in
early trade on Monday at the Interbank Foreign Exchange, mainly
on strong demand for the American unit from importers and some banks
amid a lower opening of the domestic equity market. Sensex was down 121.74
points at 24,922. Nifty was down 33.55 points at 7,576.
The government has
imposed an anti-dumping duty ranging from 5-57 percent on cold-rolled steel for
a period of five years. The duty has been imposed on countries such as China,
US, South Africa, Thailand and Taiwan.
GLOBAL
MARKET OVERVIEW
Asian
markets traded mixed on Friday, despite Wall Street's positive finish
overnight, as record low oil prices weighed resources plays and China shares
opened in negative territory as another top executive was reported missing by
local media.
Nikkei
225 gained 0.96%, while the S&P/ASX 200 fell 0.31% and the Shanghai
Composite eased 0.84%.
The
Dow Jones industrial average rose 82 points to 17574 the S&P 500 gained 4
points to 2052and the Nasdaq Composite added 22 points to 5045.
The
Chinese markets opened lower ahead of another series of economic data due on
Saturday, including retail sales, industrial production, and fixed asset
investment.
Nifty Technical
Overview:
Nifty futures opened on
flat note and witnessed bearish movement for the entire day as market tested
the break out level of 7720 and closed around psychological level of 7600. In
coming days if nifty future breaks the level of 7600 then it is expected to
test the level of 7550-7500.
No comments:
Post a Comment