Indian Market outlook:
Nifty Nifty benchmark index was positive last week on expectation of passage of GST bill as well as positive global cues. Nifty spot is currently facing stiff resistance between 8640-8680, however, with strong FII flows it is expected that the level should be crossed and 8800 mark is on the cards by the GST passage. Caution should be kept in mind that this rally has continued since last 5 months and once GST is passed correction can set in.
Top 5 gainers were Eicher Motor, Adani Port, Zee Entertainment Ltd, Lupin and Tata Power.
International Market Outlook:
International markets maintained their upward bias with both American and European indices showing gains. US S&P Futures remained in the range for most part of the week and it looks like the upside range of 2175 can be broken this week. The GDP data in the US was below expectation and this has resulted in a fall in dollar value which led to stronger equity markets. German Dax showed strength throughout the week and closed at 10335.
Asian markets are positive as the PMI data around the world will be announced today.
Help from: Dynamic Levels
Nifty Nifty benchmark index was positive last week on expectation of passage of GST bill as well as positive global cues. Nifty spot is currently facing stiff resistance between 8640-8680, however, with strong FII flows it is expected that the level should be crossed and 8800 mark is on the cards by the GST passage. Caution should be kept in mind that this rally has continued since last 5 months and once GST is passed correction can set in.
Top 5 gainers were Eicher Motor, Adani Port, Zee Entertainment Ltd, Lupin and Tata Power.
International Market Outlook:
International markets maintained their upward bias with both American and European indices showing gains. US S&P Futures remained in the range for most part of the week and it looks like the upside range of 2175 can be broken this week. The GDP data in the US was below expectation and this has resulted in a fall in dollar value which led to stronger equity markets. German Dax showed strength throughout the week and closed at 10335.
Asian markets are positive as the PMI data around the world will be announced today.
Help from: Dynamic Levels
Nifty Eyes 8800 with Expected Passage of GST Bill
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