Indian Stock Market News Today!

Today morning both major US index futures are flat by +20 and +8 points respectively hence Singapore nifty (SGX NIFTY) trading Negative by -50 points hence will be opening flat to gap down on Indian Stock Markets.

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Yesterday Indian markets were negative in 1st half but recovered and closed positive on Nifty closed at 17248 which is +27 points. Yesterday bank nifty was Negative and closed at 36548 which is +240 points.

Yesterday the US market was positive in 1st half but closed in the red. Dow was -30 points (-0.083%). IT index i.e. Nasdaq was also Negative and closed -385 points (-2.47%).

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

Nifty support – 17150-17200 & 17000-17075
Nifty resistance – 17325-17375 & 17400-17475
Bank nifty support – 36200-36375 & 35900-36050
Bank nifty resistance – 36800-36900 & 37050-37150

Yesterday (Foreign institutional investors) FII were net Sellers and have sold 1468 crore in the cash market. On the other hand (Domestic institutional investors) DII were net Buyers and have bought 1533 crore in the cash market.

The way FII’s are selling since last month we can assume that they were aware of the new variant and hence they booked their portfolio on higher levels. The COVID new variant is not that harmful which is proved globally but still, FII’s are selling and the reason behind this can be inflation issues in the future and RBI start increasing interest rates.

Also Read : Here Is How US’ Decision Of Federal Reserve Tapering Affected Stock Markets

FII’s are selling huge since the last few days and hence any bounce in the market is not sustainable and is sold out. These figures are about to worry for Indian markets. If Indian markets want to go towards all-time high levels then FII needs to start buying.

I haven’t been changing the above lines for a long time and the only reason is FII’s because they have been selling for a long time and there is no single day when they have purchased in the cash market. This selling needs to be reduced/stop sooner if we need to hold a big level and recent low of 16780 levels. If this selling increases further we will move below 16780 which will be very difficult for Indian markets.Today morning both major US index futures are flat by +20 and +8 points respectively hence Singapore nifty (SGX NIFTY) trading Negative by -50 points hence will be opening flat to gap down on Indian Markets.

I am still with the above statements as FII’s are still selling in the markets. The 2nd half of December can be seen as dry with volumes as many big institutions will not be dealing in markets as it’s a year-end for FII’s.