Indian Market Outlook:
Midway through the September F&O series, the benchmark Nifty has corrected by over 250 points already from its high of 8995. Nifty slipped to 8717 levels yesterday before bouncing back to close at the day high of 8779.The surprise rally was supported by Bank Nifty which was up by 0.6 percent. FII and Pros have been sellers in the F&O segment as well as the cash markets. In the past few trading sessions, combined selling has been seen by FII and DII, which suggests that if 8700 is breached then 8540 would be the next likely support for the Index.
Nifty Futures is expected to open at 8750 as per SGX Nifty at 8:30 am IST, which is below its previous close of 8778.
International Market Outlook:
International markets traded softly yesterday with the SP futures correcting by 23 points from yesterday high of 2141 and is trading near the range lows of 2110 and the support of 2110 is very important which if breached can take it down to its monthly low of 2065.
Midway through the September F&O series, the benchmark Nifty has corrected by over 250 points already from its high of 8995. Nifty slipped to 8717 levels yesterday before bouncing back to close at the day high of 8779.The surprise rally was supported by Bank Nifty which was up by 0.6 percent. FII and Pros have been sellers in the F&O segment as well as the cash markets. In the past few trading sessions, combined selling has been seen by FII and DII, which suggests that if 8700 is breached then 8540 would be the next likely support for the Index.
Nifty Futures is expected to open at 8750 as per SGX Nifty at 8:30 am IST, which is below its previous close of 8778.
International Market Outlook:
International markets traded softly yesterday with the SP futures correcting by 23 points from yesterday high of 2141 and is trading near the range lows of 2110 and the support of 2110 is very important which if breached can take it down to its monthly low of 2065.
Nifty Holds 8710 Support, FII Selling Continues
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