Stock Market News Today

Today morning both major US index futures are negative to flat with -16 and -20 points respectively but still, Singapore nifty (SGX NIFTY) is trading positive by 86 points hence will be gap up opening of Indian Markets.


Yesterday Indian markets again were very strong and made all-time high at 17644 and also closed at all-time levels at 17629 which is +110 points. Yesterday bank nifty was have given a big breakout as the government declared bad banks where all the banks will get a benefit of around 2 lakh crore, and hence bank nifty made a new all-time high after a long time at 37720 and also closed at all-time high levels at 37668 which is +816 points from Wednesday’s closing.
The US market yesterday again corrected but recovered from lows but still closed in the red. Dow Jones Yesterday closed negative by -63 points (-0.18%). IT index i.e. Nasdaq was positive and closed +20 points (+0.13%).

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

Nifty support – 17500-17525 & 17380-17440
Nifty resistance – 17675-17725 & 17775-17800
Bank nifty support – 37300-37450 & 36900-37100
Bank nifty resistance – 37800-38000 & 38100-38300

Yesterday (Foreign institutional investors) FII were net buyers and have bought 1622 crore in the cash market. On the other hand (Domestic institutional investors) DII were net sellers and have sold795 crore in the cash market.
As mentioned yesterday Indian markets have given break out and now the downside risk has reduced. This is the dream Bull Run where nifty have come up by +1000 points in just 1 month. This is just a dream coming true for investors. The market has still not given any sign of making the top and hence can still move upwards.
The above statement which was made yesterday by me has given confidence to investors where invested retailers have yet not booked profit and waiting for the perfect time. I still believe that the Bull Run is still intact and the market can run upwards from this level as well.