Indian Market Outlook:
The last three weeks have been range bound for Nifty as it has been unable to move out of the range of 8750 on the upside and 8500 on the downside. This has resulted in lost momentum which has neutralized both the bulls and bears. There are no major events and Nifty can be range bound. NSE IT Index might remain weak while Bank Nifty may hold above the previous breakout level of 19200. Nifty major support level is 8530-8550 which is it four week low and with FII being big buyers in cash market it is a good buying opportunity.
State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Bhartiya Mahila Bank will be in focus as SBI has approved its merger with these banks.
Top 5 gainers for yesterday were Tata Motor DVR, Tata Motors, Infratel, Asian Paints and Reliance
Nifty Futures is expected to open at 8605 as per SGX Nifty at 8:30 am IST, which is 20 points below its previous close of 8625.
International Market Outlook:
International markets responded positively to Yellen's speech which indicated that future rate hike was on the cards but fell later as Fisher in an interview said that two rate hikes were possible which seemed hawkish. US Futures Index S&P 500 fell from 2186 to 2157, a fall of 30 points before recovering 10 points to close at 2167. German Dax was negative on Friday and all eyes will be glued on September 2, Friday, where US employment report will be released for August. This is one data which the Fed will look out for. The impact of this report will be felt on 6 September as markets will remain closed on Monday, 5th September.
Help from: Dynamic Levels
The last three weeks have been range bound for Nifty as it has been unable to move out of the range of 8750 on the upside and 8500 on the downside. This has resulted in lost momentum which has neutralized both the bulls and bears. There are no major events and Nifty can be range bound. NSE IT Index might remain weak while Bank Nifty may hold above the previous breakout level of 19200. Nifty major support level is 8530-8550 which is it four week low and with FII being big buyers in cash market it is a good buying opportunity.
State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Bhartiya Mahila Bank will be in focus as SBI has approved its merger with these banks.
Top 5 gainers for yesterday were Tata Motor DVR, Tata Motors, Infratel, Asian Paints and Reliance
Nifty Futures is expected to open at 8605 as per SGX Nifty at 8:30 am IST, which is 20 points below its previous close of 8625.
International Market Outlook:
International markets responded positively to Yellen's speech which indicated that future rate hike was on the cards but fell later as Fisher in an interview said that two rate hikes were possible which seemed hawkish. US Futures Index S&P 500 fell from 2186 to 2157, a fall of 30 points before recovering 10 points to close at 2167. German Dax was negative on Friday and all eyes will be glued on September 2, Friday, where US employment report will be released for August. This is one data which the Fed will look out for. The impact of this report will be felt on 6 September as markets will remain closed on Monday, 5th September.
Help from: Dynamic Levels
Nifty To Stay In The Range Of 8550-8700 Post Yellen's Statement
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