Indian Market Outlook:
Yesterday, RBI governor Raghuram Rajan's last policy decision saw no change resulting inNifty trading in a range of 8650 to 8750. Nifty is resilient at 8700 levels but despite strong buying by the FII in both cash and derivative segment it is unable to cross 8750 levels. The bulls need a closing above 8750 to take Nifty to the next level. The support of nifty stands at 8660 which becomes a buying opportunity. Bank Nifty is trading in a range and big moves can be seen if it crosses 19200 on the upside or 18800 on the downside. The big trigger for the markets will be State Bank of India results to be announced on 12th August.
Top 5 gainers were TATA Power, Zee Entertainment LTD, Infratel, Coal India and ONGC.
Nifty Futures is expected to open at 8721 as per SGX Nifty at 8:10 am IST, which is 23 points above its previous close of 8698.
International Market Outlook:
International markets were positive yesterday with German Dax outperforming other US and Asian peers. Dax broke 10600 levels for the first time since Brexit but US Index S&P Futures is still stuck in trading range of 2183-2150 since last six weeks.
Today morning Asian market along with Nikkei and Philippines PSEi are trading negative.
Help from: Dynamic Levels
Yesterday, RBI governor Raghuram Rajan's last policy decision saw no change resulting inNifty trading in a range of 8650 to 8750. Nifty is resilient at 8700 levels but despite strong buying by the FII in both cash and derivative segment it is unable to cross 8750 levels. The bulls need a closing above 8750 to take Nifty to the next level. The support of nifty stands at 8660 which becomes a buying opportunity. Bank Nifty is trading in a range and big moves can be seen if it crosses 19200 on the upside or 18800 on the downside. The big trigger for the markets will be State Bank of India results to be announced on 12th August.
Top 5 gainers were TATA Power, Zee Entertainment LTD, Infratel, Coal India and ONGC.
Nifty Futures is expected to open at 8721 as per SGX Nifty at 8:10 am IST, which is 23 points above its previous close of 8698.
International Market Outlook:
International markets were positive yesterday with German Dax outperforming other US and Asian peers. Dax broke 10600 levels for the first time since Brexit but US Index S&P Futures is still stuck in trading range of 2183-2150 since last six weeks.
Today morning Asian market along with Nikkei and Philippines PSEi are trading negative.
Help from: Dynamic Levels
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