Indian Stock Market News Today

Today morning both major US index futures are positive with 80 and 15 points respectively but Singapore nifty (SGX NIFTY) trading Negative by 83 points hence will be a gap down opening of Indian Stock Markets.


On Friday Indian markets were closed on the occasion of Ganesh Chaturthi. On Thursday Indian markets were volatile and closed at 17369 which is just +15 points. On Thursday bank nifty was in consolidation mode and closed at 36683 which is -85 points from Wednesday’s closing.
The US market on Thursday and Friday was corrected and closed in the red. Dow Jones on Friday closed negative by -271 points (-0.78%). IT index i.e. Nasdaq also corrected and closed at -132 points (-0.87%).

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

Nifty support – 17250-17300 & 17125-17200
Nifty resistance – 17375-17425 & 17475-17525
Bank nifty support – 36350-36425 & 36050-36200
Bank nifty resistance – 36850-36900 & 37000-37150

Yesterday (Foreign institutional investors) FII were net buyers and have bought 423 crores in the cash market. On the other hand (Domestic institutional investors) DII were net buyers and have bought 704 crores in the cash market.
A correction in Dow jones can stop the Outperformance of Indian markets and hence Indian markets can consolidate in the upper range. Buying in Indian markets can be done on a support range where supports and shift slightly on the lower side.