Indian Share Market News Today

Today morning both major US index futures are down with 65 and 11 points respectively but china and Hongkong are trading negative and hence Singapore nifty (SGX NIFTY) is trading deeply negative by 200 points as Indian markets were closed yesterday hence will be a gap down opening of the Indian market.


On Wednesday Indian markets again made an all-time high of 16701but  on a closing basis market corrected and closed 150 points from the day’s high at 16568. On Wednesday Bank nifty corrected from 36225 which was a gap up open but corrected and closed below 35800 at 35555 which is bad for bank nifty can get more corrected further.

The US market yesterday and on Wednesday corrected heavily by around 500 points on a closing basis. Dow Jones made a low of 34690 from all-time high levels of 36625. Dow yesterday was negative by -69 points (-0.19%), whereas the IT index i.e. Nasdaq also corrected on Wednesday and yesterday but tried to recover and closed yesterday by +15 points (+0.11%).

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

Nifty support – 16275-16375 & 16125-16225

Nifty resistance – 16475-16575

Bank nifty support – 34800-35000 & 34350-34550

Bank nifty resistance – 35600-35800

On Friday (Foreign institutional investors) FII were net sellers and have sold 595 crores in the cash market. On the other hand (Domestic institutional investors) DII were net sellers and have sold around 729 crores in the cash market.

US market corrected heavily as FED has given some indication that the stimulus package can be withdrawn soon. The date and time and the amount of the package to be withdrawn are not yet declared and hence this correction can be seen as running correction.

Indian market will also get corrected. All the investors must look at 16125 levels on Nifty on a closing basis. If the market closes below these levels then correction can extend till 15575.