Indian Share Market News Today

Today morning both major US index futures are positive with +50 and +72 points respectively and hence Singapore nifty (SGX NIFTY) trading positive by +40 points will be opening gap up of Indian Markets.

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Yesterday Indian markets have shown some correction again but recovered and closed flat to positive at 18125 which is +10 points. Yesterday bank nifty was flying high in the blue sky zone after ICICI bank’s fantastic results. Bank Nifty was positive and made an all-time high near 41829 levels and closed positive at 41192 which is +868 points.

The US market yesterday was positive and closed positive. Dow Jones yesterday closed positive by +64 points (+0.18%). IT index i.e. Nasdaq was also positive and closed +136 points (+0.90%).

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

Nifty support – 17950-18125 & 17800-17875
Nifty resistance – 18175-18250 & 18325-18375
Bank nifty support – 40500-40600 & 40200-40325
Bank nifty resistance – 41500-41600 & 41800-42000

Yesterday (Foreign institutional investors) FII were net Sellers and have sold 2459 crore in the cash market. On the other hand (Domestic institutional investors) DII were net Buyers and have bought 2390 crore in the cash market.

The global markets are strong at all-time highs but now Indian markets are correcting which is just running correction and profit booking. Indian markets will again start their up move after correcting anywhere near this level. 17950-18000 is a very very strong support zone for investors and they don’t need to worry until and unless the market closes on the levels mentioned. Trades should be cautious while buying stocks on higher levels especially when they are trading on leverage positions and trading in the derivatives market.

Yesterday Nifty made a low of 17968 which and be considered as short term bottom for markets. These levels have been mentioned by us for since last many days as it was a big support for the market. The investors have not worried and are holding their investments as the levels mentioned haven’t broken and the market recovered and now looks bullish again after correcting.