Yesterday Indian markets were super strong and made all-time high 17245 and also closed at all-time levels at 17234. Yesterday bank nifty was also strong and closed at 36831.
The US market yesterday has been consolidating for the last 3 days. As expected US markets resumed their up move and hence Dow was positive by +131 points (+0.37%). IT index i.e. Nasdaq was strong with border index S&P500 and closed at all-time high at +21 points (+0.14%) and +12 points (0.28%) respectively.
Following are the supports and resistance for two major indexes of INDIA.
Nifty support – 17075-17135 & 17000-17050
Nifty resistance – 17275-17325 & 17375-17400
Bank nifty support – 36475-36575 & 36350-36425
Bank nifty resistance – 37000-37100 & 37225-37300
On Friday (Foreign institutional investors) FII were net buyers and have bought 349crore in the cash market. On the other hand (Domestic institutional investors) DII were net buyers and have bought around 382 crores in the cash market.
Yesterday in the US market we have seen up move after 3 days consolidation in Dow Jones, Nasdaq & also in S&P500. This is a good sign of the market where Nasdaq and S&P500 made an all-time high.