Indian equity markets are poised to open on a positive territory on Tuesday, following positive sentiments prevailing in the Asian markets. The SGX Nifty, which was trading at 9,806 with gains of 33 points, is signifying positive start for the day.
Now, going forward, Nifty50 has major support around the level of 9,685 which is the recent swing low, and if this swing low is breached, than it may head towards the levels of 9,630-9,600. On the other hand, 9,800 and 9,850 will act as stiff resistance levels.
Back home, Indian market extended their losing streak on Monday on account of weakness in global markets and sharp decline in index heavyweight Infosys, which weighed on the sentiment on the domestic bourses. Sensex dropped 266 points to close at 31,259 and Nifty tumbled 83 points to settle at 9,754.
The US stock market indices closed mostly higher on Monday, with the Dow Industrial Average and S&P 500 eking out slight gains. The Dow Jones Industrial Average gained 29 points to 21,704 and the S&P 500 edged up 3 points to 2,428, while the tech-laden Nasdaq Composite Index edged down 3 points to 6,213.
Majority of Asian markets were trading on positive territory at the open on Tuesday. Hong Kong's Hang Seng has risen 260 points, Japan’s Nikkei 225 has advanced 2 points, while China’s Shanghai Composite has lost 11 points.
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