Must Read Today’s Stock Market Update Before Trading!

Today morning both major US index futures are positive with +40 and +30 points respectively and hence Singapore nifty (SGX NIFTY) trading positive by +55 points hence will be opening the gap up on Indian Stock Markets.

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Yesterday Indian markets were in consolidating mode after a good run on Friday. Indian markets yesterday closed positive at 18109 which is +7 points. Yesterday bank nifty was also consolidating and closed at 38702 which is -31 points.

The US market was flat yesterday. Dow Jones yesterday closed negative by -12 points (-0.036%). IT index i.e. Nasdaq was flat and closed -7 points (-0.045%).

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

http://Share Market Latest Update On The First Day Of The Week

  • Nifty support – 17975-18025 & 17875-17925
  • Nifty resistance – 17175-17200 & 18265-18300
  • Bank nifty support – 38350-38475 & 38000-38150
  • Bank nifty resistance – 38925-39125 & 39225-39375

Yesterday (Foreign institutional investors) FII were net Buyers and have bought 424 crores in the cash market. On the other hand (Domestic institutional investors) DII were net Buyers and have bought 1524 crore in the cash market.

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The Global markets have now again resumed their up move after small profit booking. Indian markets have shown strength on Friday and closed above 18100 which can be seen as a completion of correction. I have been saying for a long time that Indian markets will resume their up move after running correction and now it seems that we have completed our correction and will again move towards all-time high levels soon.