Positive opening likely following strong global cues

The Indian equity markets are likely to open the last trading session of the week on an optimistic note following positive cues from the Asian peers and strong close on Wall Street in overnight trade. The trends on SGX Nifty suggest markets are likely to open with gains of 24 points at 9,945. 
 
Now, going forward, the level of 9,850 is a crucial support for the Nifty followed by 9,800. On the upside, Nifty has resistance in the range of 9,930-9,950, and if it manages to successfully hold above this level, it may scale up to levels of 10,040-10,080. 
 
Back home, Indian markets snapped four day winning streak to end marginally lower on Thursday. The BSE Sensex lost 80 points to finish at 31,592 and the Nifty50 index slipped 26 points to settle below the 9,900-mark. The market breadth, indicating the overall health of the market, was positive. 
 
The US stock indices ended Thursday’s session firmly in the green as the indices extended their run of record highs. Technology and financial stocks were among the best performing sectors. The Dow Jones Industrial Average ended higher by about 114 points to 22,775. The tech-heavy Nasdaq Composite Index rose 51 points to close at 6,585 and the S&P 500 inched up 14 points to finish at 2,552. 
 
Asian stock markets opened in the green on Friday following the positive leads from Wall Street. Japan’s Nikkei 225 has added 40 points and Hong Kong's Hang Seng has surged 186 points.  The Chinese market was closed for a public holiday.  

Markets may open with modest gains tracking positive global cues

Indian equity markets are expected to open with modest gains on Wednesday tracking positive leads from global peers. Trends on SGX Nifty suggest markets are likely to open with gains of 17 points at 9,892.
 
Reserve Bank of India's Monetary Policy Committee (MPC) will conclude its two day meet today and announce the policy. The consensus on the street is that RBI will maintain status quo on lending rates, citing the risk of inflation. 
 
The zone of 9,900-9,930 is a key resistance area for the Nifty50 index. On the downside, the zone of 9,810-9,830 is an immediate support level and a breach of this support level may open gates for correction up to the levels of 9,760 and 9,700. 
 
Back home, Indian markets registered decent gains on the first trading session of the October month. The BSE Sensex surged 214 points to finish at 31,497 and the Nifty index gained 71 points to close at 9,860. The market breadth, indicating overall health of the market, was optimistic. The BSE Mid-Cap index gained 0.77% and the Small-Cap index gained 0.49%. 
 
The August core sector output was up by 4.9% as compared to just 2.6% in the month of July, data released by government showed. 
 
On Tuesday evening, the Central government announced reduction in excise duty on petrol and diesel by Rs 2 per litre. 
 
The US equities continue to set fresh records on Tuesday. The Dow Jones Industrial Average added 84 points to settle at 22,642. The Nasdaq Composite Index rose 15 points to close at 6,532. The S&P 500 inched up 6 points to finish at 2,535. 
 
Asian equity benchmarks are trending up in the early morning trade on Wednesday, tracking positive cues overnight from Wall Street.  Japan’s Nikkei 225 has gained 47 points, Hong Kong's Hang Seng has surged 243 points and China’s Shanghai Composite has added 10 points.

Indian equity markets may open flat with positive bias on Thursday, tracking subdued cues from Asian peers. The SGX Nifty, which was trading with gains of 9 points at 9,864, is hinting a flat start for the day.
 
Nifty50 has resistance placed around the level of 9,900 and the next resistance is placed around the level of 9,950. On the downside, 9,800 is a strong support area, and if this support is breached, the next support stands at 9,750 level.
 
Back home, Wednesday turned out to be a wonderful day for the Indian markets as markets ended higher for the second straight session, helped by strong rally in the last hour of trading session.
 
The US stocks ended with marginal losses on Wednesday as traders reacted to comments by President Donald Trump at a rally in Phoenix, Arizona. The Dow Jones Industrial Average fell 88 points to finish at 21,812. The tech-heavy Nasdaq Composite Index shed 19 points to close at 6,278. The S&P 500 slid 8 points to end at 2,444. 
 
Asian markets are showing mixed trend in early trade on Thursday. Japan’s Nikkei 225 has shed 28 points. Hong Kong’s Hang Seng has gained 94 points and China’s Shanghai Composite has advanced 2 points.

Positive global cues may see markets opening in the green

Indian equity markets are likely to open higher on Wednesday, following the rally on Wall Street overnight and positive sentiment prevailing in the Asian markets. The SGX Nifty, which was trading higher by 30 points at 9,819, is signalling positive start for the day.
 
Now, going forward, Nifty50 has immediate support around the level of 9,730 and major support is placed around the level of 9,685 which is the recent swing low, and if this swing low is breached, then it may head towards the levels of 9,630-9,600. On the other hand, 9,830 and 9,870 will act as stiff resistance levels.
 
Back home, Indian market registered small gains on Tuesday after registering losses in the preceding two trading sessions. The BSE Sensex advanced 33 points to finish at 31,292 while the NSE Nifty climbed 11 points to close at 9,766.

Indian markets may open positive on encouraging cues from global peers

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.

Markets likely to open flat amid mixed Asian cues

Indian equity markets are poised to open flat with marginal gains on Monday, tracking mixed cues prevailing in the Asian markets. 
The SGX Nifty, which was trading at 9,858 with minor gain of 10 points, is indicating flat start for the day.

Nifty50 has immediate support placed around the 9,770 level and the next support is placed around the level of 9,700. On the upside, the level of 9,860 will act as an immediate resistance, while the next resistance is seen around the level of 9,900.

Back home, profit-booking was seen in Indian markets on Friday after three days of continuous rally amid weak global cues. Strong sell-off was seen in Infosys after the announcement that the board of directors has accepted the resignation of Vishal Sikka as the Managing Director and CEO with immediate effect. Sensex slipped 271 points to end at 31,525 and the Nifty dropped 67 points to finish at 9,837.

The US stocks ended the last trading session of the week with marginal losses as stocks showed lack of direction. The Dow Jones Industrial Average finished down 76 points at 21,675. The S&P 500 shed 4 points to close at 2,426. The tech-laden Nasdaq Composite Index edged down 5 points to 6,217.

Asian markets were mixed in early trade on Monday. Japan’s Nikkei 225 has shed 87 points, while Hong Kong's Hang Seng has surged 144 points and China’s Shanghai Composite has gained 10 points.

Upward rally to start if Nifty 9,650 breaches

As per the market observers, Nifty has formed an ‘inside bar’ on the daily technical charts. It can continue to trade in the narrow range unless any decisive move takes index outside the range of 9,590-9,650 range.

Nifty closed at 9,637 level up by 24 points and Sensex closed at 31,245 level up by 35 points on Wednesday. The Nifty50 index traded in a narrow range with an intraday low of 9,607 level and intraday high of 9,643 level. However, it ended at a 2-week closing high.

 
Nifty could not cross the immediate resistance level of 9650. As per the market observers, Nifty has formed an ‘inside bar’ on the daily technical charts. It can continue to trade in the narrow range unless any decisive move takes index outside the range of 9,590-9,650 range.
 
Nifty’s 5-day exponential moving average (EMA) and 13-day EMA stood at 9,596 and 9,586 level, respectively. The Nifty50 index now, going forward, may find resistance near levels of 9,650-9,660, and if it sustains above this resistance zone, it may scale up to levels of 9,700-9,710. On the lower end, the level of 9,580 may act as an immediate support level for Nifty50, but if the index fails to hold this support level, it may witness further correction up to levels of 9,550 and 9,530.

Markets may dither on heightened geopolitical concerns

Indian equity markets are likely to open on a soft note on Wednesday, tracking muted cues from SGX Nifty, which was unchanged at 9,625 amid lacklustre trading across Asian markets.
 
The Nifty50 index saw a strong supply around levels of 9,640-9,650 in the previous session and, hence, the zone of 9,640-9,650 may continue to act as a strong resistance zone. On the flip-side, the level of 9,580 may act as an immediate support level for Nifty50, but if the index fails to hold this support level, it may witness further correction up to the levels of 9,550 and 9,530.
 
Back home, Indian markets, after starting the session with moderate gains, pared most of the gains and oscillated within a restricted range for most part of the session. However, in the late hour of trading, some selling was witnessed and markets ended on a flat note with negative bias on Tuesday.
 
American stock exchanges were closed on Tuesday on account of Independence Day holiday.
 
Asian bourses were under pressure in early trade amid heightened geopolitical concerns on Wednesday. Japan’s Nikkei 225 has plunged 121 points; Hong Kong's Hang Seng has slipped 38 points, while China’s Shanghai Composite is trading flat with negative bias.

Markets likely to open lower post Fed rate hike

Indian equity markets are likely to open lower on Thursday, tracking negative cues across Asian markets. The SGX Nifty, which was trading with losses of 41 points at 9,601, indicated that domestic bourses may open lower at the opening bell.
 
Nifty50 index has immediate support placed around the level of 9,580, and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, Nifty50 needs to sustain above the level to witness up-move towards the levels of 9,700-9,740. 
 
Back home, Indian markets ended with modest gains after a volatile session on Wednesday, led by gains in banking and realty stocks. Index heavyweight Reliance Industries gained about 3% after the data released by TRAI showed strong April subscriber addition, although broader market sentiment was muted ahead of the U.S Federal Reserve meeting.
 
The US stocks closed mixed on Wednesday after Fed hiked rates. The Dow Jones Industrial Average closed up 46 points at a record 21,375. The S&P 500 declined 2 points to finish at 2,438. The Nasdaq Composite Index slipped 25 points to close at 6,195. The US Federal Reserve hiked the Fed rate by 25 basis points along expected lines. The enhanced rate now stands in the range of 1-1.25%. Fed has also guided on one more rate hike this year.
 
Most Asian stocks have declined in early trade on Thursday. Japan’s Nikkei 225 has been trading with loss of 105 points; Hong Kong’s Hang Seng has lost 239 points, while China’s Shanghai Composite has shed 8 points

Lack of triggers may see markets opening flat

Indian equity markets are likely to open flat on Wednesday, tracking mixed trading across Asian markets. The SGX Nifty, which was trading with marginal loss of 4 points at 9,612, indicated that domestic bourses may open flat at the opening bell.
 
Nifty50 index has immediate support placed around the level of 9,580 and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, the level of 9,640-9,650 is likely to act as a resistance for the Nifty50, if it holds above the level of 9,640-9,650, it may scale up to the level of 9,700.
 
Back home, Indian market opened flat, but soon after opening, it scaled higher. However, it failed to sustain at the higher levels and it erased earlier gains to end flat on Tuesday. IT and auto stocks were laggards. On the other hand, support came in for Power Grid, Lupin, NTPC and HDFC.
 
The US stocks moved to the upside early in the session and remained firm throughout the trading session on Tuesday. The Dow and the S&P 500 both closed at record levels. The Nasdaq Composite Index surged 45 points to close at 6,220. The Dow Jones Industrial Average climbed 93 points to end at 21,328. The S&P 500 rose 11 points to close at 2,440.
 
Asian stocks were trading mixed in early trading on Wednesday. Japan’s Nikkei 225 has been trading with gains of 62 points; Hong Kong’s Hang Seng has lost 53 points, while China’s Shanghai Composite has shed 11 points.

Indian equity markets may start the session with a gap down on Monday, tracking subdued cues from Asian peers. The SGX Nifty, which was trading with losses of 46 points at 9,636, indicated that domestic bourses may open negative at the opening bell.
 
The levels of 9,600-9,610 is an immediate support level for the Nifty50 index, and if it holds below level of 9,600-9,610 it may correct up to the level of 9,570. On the upside, the region of 9,700-9,710 may continue to act as a barrier and if the index holds above 9,710 it may move up towards the levels of 9,740-9,780.
 
On Sunday, the Goods and Service Tax (GST) Council decided to lower the tax rate for 66 items.
 
The market participants will keenly watch key economic data i.e. IIP data and Inflation numbers slated to be released today.
 
Back home, despite opening the session on a cautious note and marking intra-day low in the afternoon session, Indian markets ended the last trading session of the week on a positive note led by buying in auto, realty and metal stocks.
 
After registering record intra-day highs early in the day, the US stocks yielded some ground over the course of the trading day on the last trading session of the day. The tech-heavy Nasdaq Composite index sank 114 points to close at 6,208. The Dow closed at a record on Friday as it rose 89 points to end at 21,272. The S&P 500 edged down 2 points to finish at 2,432.
 
Asian shares edge lower in early trades on Monday. Japan’s Nikkei 225 has been trading with loss of 68 points; Hong Kong’s Hang Seng has slipped 102 points, while China’s Shanghai Composite has shed 2 points.

Nifty may open flat to positive; 8300 breakout must for further optimism

Indian markets bounced back after snapping two days’ losses to close higher by 0.65%.
 
Barring Realty that closed marginally lower, all other sectors ended in green, where Metal and Auto led the move, all thanks to a 3% rally in heavy weights Hindalco and Tata Motors. Broader markets outshined rising in the range of 0.7-0.8%.
 
US markets remained subdued where investors awaited start off earnings season and a news conference from President Donald Trump to be held on January 11. S&P 500 closed flat at 2268.9 levels as fall in oil offset the advance in healthcare stocks.
 
Dow closed marginally lower by 0.16%. However, Nasdaq maintained its winning spree and reported its 4th record close, gaining 0.36% intraday.   
 
European markets closed mostly higher, where UK’s FTSE 100 broke a new record, closing 0.52% up. This was driven by a rally in mining stocks and British Pound devaluation. France's CAC 40 remained flat; and Germany's DAX closed 0.17% up with hopes that Germany's economy would expand 1.5% in 2017.
 
Asian markets started off Wednesday's session on a positive note, ahead of Donald Trump’s first full-fledged press conference after election. Moreover, base metals remained strongly up driven by buoyant Producers Price Inflation (PPI) data from China. Nikkei 225 is 0.29% up, Hang Seng has surged 0.69%; while Shanghai Composite is flat.
 
SGX Nifty is trading stronger by 0.37% gains at 8328.5 levels.
 
We have Banco India and South Indian Bank results to be watched out today.
 
Nifty may open on a flat to positive note and if it breaks out of 8300 mark, which is its crucial resistance level, we may see another rally of up to 8350 followed by 8380 on the upside.