Nifty has set the new record closing, just 4 trading sessions left for the month and expiry, 8000 cannot be ruled out barring Today’s trade...
Global Market Update:-
U.S. stocks finished Thursday mixed to lower after disappointing housing data and lackluster earnings sent a handful of investors selling equities for profits.
At the close of U.S. trading, the Dow fell 0.02%, the S&P index rose 0.05%, while the NASDAQ index fell 0.4%.
Earnings season is underway and the results have been positive for many, including Comcast Corporation, Verizon Communications Inc , Chipotle Mexican Grill Inc, Google Inc , Apple Inc , Microsoft Corporation and others. Profit taking kicked in on Thursday despite upbeat earnings from Facebook Inc and Ford Motor Company , as disappointing numbers from Caterpillar Inc and Boeing Company prompted some investors to sell and take a breather on the sidelines to digest mixed U.S. data.
Broader equities managed to remain stable after data revealed initial jobless claims in the U.S. fell to an eight-year low.
European indices, meanwhile, ended the day higher. After the close of European trade, the France's CAC rose 0.78%, while Germany's DAX rose 0.42%. Meanwhile, in the U.K. the FTSE rose 0.34%.
Indian Market Update:-
Indian markets setting records continuously amid the global tensions, Benchmark indices closed at all time records again and giving 8th straight positive session and continues, now we have left with just 4 days for the expiry and month to end.
Nifty is just away 170 points away from psychological level of 8000, and can we end up reaching this expiry. Now the important zone for nifty is around 7800 and resistance above 7860 for the day.
Markets may again consolidate for the day as today is a last trading day of the week.
Nifty has now strong support of 7800 levels and after breaking these levels as expected Indian markets witnessed another historical high and closed at all time highs. Now for nifty 7860 level acts as strong resistance zone and now we are heading towards the 8k mark.
Technically we have all the reasons why we should hit 8k mark, MACD momentum indicator now indicates strong upmove to continue. RSI trading in a bullish zone and volumes have been ultimate and again it’s a market driven by FII’s. Open interest building in options is highest at 8000 strike price.
Nifty support and Resistance:-
Nifty spot support at 78200 and Resistance 7860 for the day
FII and DII Activity:-
FII added around 282 crores worth of stocks in Equity and DII sold 290 crores in Equity.
GFK German consumer climate
German business climate
UK GDP numbers
US core durable goods
Last day of the trading is always cautious but stay long with strict stop losses...
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