Indian Share Market News Update

Today morning both major US index futures are negative with -110 and -65 points respectively and hence Singapore nifty (SGX NIFTY) trading negative by -121 points hence will be an opening gap down on Indian Share Markets.


Yesterday Indian markets were weak. Indian markets yesterday closed negative at 18044 which is -24 points. Yesterday bank nifty was a week and closed negative at 39368 which is -69 points.

The US market has shown profit booking yesterday. Dow Jones yesterday closed negative by -112 points (-0.31%). IT index i.e. Nasdaq was also negative and closed -95 points (-0.60%).

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

Nifty support – 17900-17975 & 17800-17850
Nifty resistance – 18050-18100 & 18125-18175
Bank nifty support – 38950-39125 & 38525-38675
Bank nifty resistance – 39500-39575 & 39675-39750

On Wednesday (Foreign institutional investors) FII were net Sellers and have sold 2445 crore in the cash market. On the other hand (Domestic institutional investors) DII were net Buyers and have bought 1417 crore 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.