After huge profit taking on Friday, Indian markets are set to bounce back...
Global Market Update:-
Disappointing earnings from online retailer Amazon.com Inc and credit card company Visa Inc sent broader stock indices falling on Friday in a selloff also fueled by fears that conflict in Ukraine and Gaza will drag on global recovery. At the close of U.S. trading, the Dow fell 0.72%, the S&P index rose 0.48%, while the NASDAQ index fell 0.50%. The Pentagon said earlier that Russia may be set to provide more sophisticated weapons to Ukrainian separatists, which spooked investors.
Israel, meanwhile, rejected calls for a ceasefire and continued its ground offensive in Gaza, with reports that Israel's defense ministry may widen the campaign rattling nerves even further, offsetting otherwise positive economic indicators.
European indices, meanwhile, ended the day lower.
After the close of European trade, the France's CAC fell 1.82%, while Germany's DAX fell 1.53%. Meanwhile, in the U.K. the FTSE fell 0.44%.
Indian Market Update:-
As for as the Indian markets are concerned, witnessed in high profit taking trade after a 8 day rally and traders did not wanted to carry the positions. But overall outlook for the Indian markets are positive.
Nifty now has the strong support zone of 7730 and resistance of 7830 levels. Today being Monday we can see the continuation of the Rally and long additions as roll over open interest addition is huge. Advice is to stay long.
Nifty has now strong support of 7730 levels and after 8th day rally Indian markets witnessed huge profit booking. Now for nifty 7830 level acts as strong resistance zone.
Nifty support and Resistance:-
Nifty spot support at 7730 and Resistance 7830 for the day
FII and DII Activity:-
FII added around 125 crores worth of stocks in Equity and DII sold 210 crores in Equity.
US pending home sales data
US services PMI
Dallas fed manufacturing Business Index
Today markets should be trading in a positive territory...
[for detail report call @ 08553940862]
DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.