Have A Glance Through Indian Stock Markets Update Before Trading

Today morning both major US index futures are positive with +62 and +48 points respectively and hence Singapore nifty (SGX NIFTY) trading positive by +50 points hence will be opening the gap up on Indian Stock Markets.

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Yesterday Indian markets were weak due to global markets and expiry pressure. Indian markets yesterday closed negative at 17873 which is -143 points. Yesterday bank nifty was also weak and closed negative at 38560 which is -463 points.

The US market has shown a slight correction yesterday. Dow Jones yesterday closed negative by -158 points (-0.44%). IT index i.e. Nasdaq was positive and closed +81 points (+0.52%).

https://politicalbloc.com/todays-indian-stock-market-update/

Following are the supports and resistance for two major indexes of INDIA.

  • Nifty support – 17750-17800 & 17625-17700
  • Nifty resistance – 17925-17975 & 18025-18075
  • Bank nifty support – 38350-38425 & 37925-38100
  • Bank nifty resistance – 38875-38925 & 39025-39225

https://politicalbloc.com/indian-share-market-news-update/

Yesterday (Foreign institutional investors) FII were net Sellers and have sold 1637 crore in the cash market. On the other hand (Domestic institutional investors) DII were net Buyers and have bought 445 crores in the cash market.

The Global markets have shown profit booking yesterday. Indian markets are not showing strength on higher levels, but I still don’t think that this Bull Run has ended. This can be seen as a running correction and we can again make all-time highs in short term.