Share Market News

Today morning both major US index futures are flat to positive with 5 and 10 points respectively and hence Singapore nifty (SGX NIFTY) is trading slightly higher with 40 points which indicates a gap up opening of the Indian market.

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Yesterday Indian markets again touched an all-time high and tried breaking the range on the upper side. For the whole day market was sustaining above 16325 and made an all-time high of 16360 and in 2nd half, there was a big profit booking where market came down by 150 points, made a low of 16201 and closed flat to positive at 16280.
The US market yesterday was mixed where Dow jones was +162 points (-0.46%) whereas the IT index i.e. Nasdaq was negative by 72 points (-0.49%). Dow Jones made an all-time high yesterday as there was a 1 lakh crore dollar infra package declared at the US senate.

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

Nifty support – 16210-16235 & 16125-16175
Nifty resistance – 16325-16350 & 16400-16450
Bank nifty support – 35800-35900 & 35600-35700
Bank nifty resistance – 36200-36300 & 36400-36600

On Friday (Foreign institutional investors) FII were net sellers and have sold 179 crores in the cash market. On the other hand (Domestic institutional investors) DII were net buyers and have bought around 689 crores in the cash market.
In the US market senate declared a 1 lakh crore dollar infra package which was a good trigger for Dow jones to break the range of 35000-35200 on the upside and closed at an all-time high at 35264. The brooder index S&P 500 also made all-time yesterday. Dow jones’s breakout can make a new range now above 35200 up to 35500.