Stock Market Update

Today morning both major US index futures are positive with +35 and +17 points respectively and hence Singapore nifty (SGX NIFTY) is trading Negative by +5 points hence will be opening flat on Indian Markets.


Yesterday Indian markets have shown some kind of short covering in 1st half but closed negative at 18210 which is -57 points. Yesterday bank nifty was trying to sustain on higher levels but closed negative at 40874 which is -363 points.

The US market yesterday was Negative and closed negative. Dow Jones yesterday closed Negative by -266 points (-0.74%). IT index i.e. Nasdaq was positive but closed +0.12 points (+0.001%).

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

Nifty support – 18100-18175 & 17950-18050
Nifty resistance – 18265-18300 & 18350-18425
Bank nifty support – 40500-40600 & 40150-40325
Bank nifty resistance – 41175-41250 & 41350-41500

  • Yesterday’s Stock Market Condition
    Yesterday (Foreign institutional investors) FII were net Sellers and have sold 1913 crore in the cash market. On the other hand (Domestic institutional investors) DII were net Buyers and have bought 472 crores in the cash market.
  • Stock Market Perspective For Investors
    The global markets are strong at all-time highs but now Indian markets are correcting which is just running correction and profit booking. Indian markets will again start their up move after correcting anywhere near this level. 17950-18000 is a very strong support zone for investors and they don’t need to worry until and unless the market closes on the levels mentioned. Trades should be cautious while buying stocks on higher levels especially when they are trading on leverage positions and trading in the derivatives market.

  • Stock Market Situation 
    Yesterday Nifty made a low of 17968 which and be considered as short term bottom for markets. These levels have been mentioned by us for last many days as it was a big support for the market. The investors have not worried and are holding their investments as the levels mentioned haven’t broken and the market recovered and now looks bullish again after correcting.