Indian Market Outlook:
Indian benchmark Nifty is in a buy mode with strong support seen at 8550 levels. It has seen sharp buying from these levels for the past two weeks. The upside resistance of 8750 is also the level it has reversed over the past two weeks. On Friday State bank of India came up with its numbers and the stock gave an upside closing with gains of 8%. Bank Nifty recovered sharply after the results to close at 18960, a flat weekly closing. The inflation numbers will be announced today which will set the tone of the market going forward..
Top 5 gainers for yesterday were State Bank Of India, Axis Bank, Yes Bank, Hindalco and Tata Motors.
Nifty Futures is expected to open at 8712 as per SGX Nifty at 8:05 am IST, which is 40 points above its previous close of 8672.
International Market outlook:
International markets were mildly positive yesterday with US S&P Futures making a new high of 2191 but closed at 2185. A slow up move has been seen over the past few weeks with the major support at 2141. Above this level the trend of S&P Index will remain a buy.
German Dax was flat and is facing resistance at 10750 levels. Japan's Nikkei is trading below two day low in a negative zone with a net change of -0.25% from yesterday's close.
Help From: Dynamic Levels
Indian benchmark Nifty is in a buy mode with strong support seen at 8550 levels. It has seen sharp buying from these levels for the past two weeks. The upside resistance of 8750 is also the level it has reversed over the past two weeks. On Friday State bank of India came up with its numbers and the stock gave an upside closing with gains of 8%. Bank Nifty recovered sharply after the results to close at 18960, a flat weekly closing. The inflation numbers will be announced today which will set the tone of the market going forward..
Top 5 gainers for yesterday were State Bank Of India, Axis Bank, Yes Bank, Hindalco and Tata Motors.
Nifty Futures is expected to open at 8712 as per SGX Nifty at 8:05 am IST, which is 40 points above its previous close of 8672.
International Market outlook:
International markets were mildly positive yesterday with US S&P Futures making a new high of 2191 but closed at 2185. A slow up move has been seen over the past few weeks with the major support at 2141. Above this level the trend of S&P Index will remain a buy.
German Dax was flat and is facing resistance at 10750 levels. Japan's Nikkei is trading below two day low in a negative zone with a net change of -0.25% from yesterday's close.
Help From: Dynamic Levels
Nifty Uptrend Intact, Resistance at 8750
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