Indian Market Outlook:
A fresh week saw Nifty outperforming its global peers with a breakout above weekly high of 8605, Nifty made a high of 8645 and the momentum was aided by Bank Nifty which rose sharply by 300 points to close at 18980.Market players are keenly awaiting the passage of GST bill which will be one of the biggest tax reforms in a decade, the positive sentiment is expected to continue today despite international markets weakness. Nifty trend is a buy and any correction today of 50 to 60 points should be used as an buying opportunity.
The top 5 gainers are Bhel, Bank of Baroda, Maruti, State Bank of India and Asian paints.
International Market outlook:
International Markets are moving in a narrow trading band. Yesterday correction was seen in the US markets where S&P futures took it to the lower end of the range at 2155, the range being 2172-2150.
S&P Futures sell trend will be confirmed only if it trades below 2120.The European indices were trading with a positive bias and German Dax broke its previous week high of 10189 but closed lower.
Asian markets are trading negative with Japan Nikkei trading in negative territory.
A fresh week saw Nifty outperforming its global peers with a breakout above weekly high of 8605, Nifty made a high of 8645 and the momentum was aided by Bank Nifty which rose sharply by 300 points to close at 18980.Market players are keenly awaiting the passage of GST bill which will be one of the biggest tax reforms in a decade, the positive sentiment is expected to continue today despite international markets weakness. Nifty trend is a buy and any correction today of 50 to 60 points should be used as an buying opportunity.
The top 5 gainers are Bhel, Bank of Baroda, Maruti, State Bank of India and Asian paints.
International Market outlook:
International Markets are moving in a narrow trading band. Yesterday correction was seen in the US markets where S&P futures took it to the lower end of the range at 2155, the range being 2172-2150.
S&P Futures sell trend will be confirmed only if it trades below 2120.The European indices were trading with a positive bias and German Dax broke its previous week high of 10189 but closed lower.
Asian markets are trading negative with Japan Nikkei trading in negative territory.
Nifty Making New 52 Week High, GST Major Trigger
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