Indian Market Outlook:
Nifty has undergone two days of profit booking even as it corrected by over 250 points from recent high of 8995.The short term trend will turn to sell if the Index slips below the crucial 8720 level. Banking and Auto shares saw sharp bouts of profit booking as FII sold positions in cash as well as the F&O segment.
Nifty is expected to be volatile till Fed meet on Wednesday night Indian time, which is expected to clear the probable timeframe of the next interest rate hike in the United States.
Nifty Futures is expected to open at 8750 as per SGX Nifty at 8:30 am IST, which is above its previous close of 8742.
International Market Outlook:
International markets continued to be volatile even as the S&P Futures Index fell by over a percent yesterday. The Index traded near its range low of 2110 yesterday. The fall from its recent high of 2190 suggests that the short term trend of S&P has turned to sell and the target is 2065.
The German Dax too witnessed some profit booking after a positive start yesterday. Amongst the Asian markets, Nikkei is trading lower.
Nifty has undergone two days of profit booking even as it corrected by over 250 points from recent high of 8995.The short term trend will turn to sell if the Index slips below the crucial 8720 level. Banking and Auto shares saw sharp bouts of profit booking as FII sold positions in cash as well as the F&O segment.
Nifty is expected to be volatile till Fed meet on Wednesday night Indian time, which is expected to clear the probable timeframe of the next interest rate hike in the United States.
Nifty Futures is expected to open at 8750 as per SGX Nifty at 8:30 am IST, which is above its previous close of 8742.
International Market Outlook:
International markets continued to be volatile even as the S&P Futures Index fell by over a percent yesterday. The Index traded near its range low of 2110 yesterday. The fall from its recent high of 2190 suggests that the short term trend of S&P has turned to sell and the target is 2065.
The German Dax too witnessed some profit booking after a positive start yesterday. Amongst the Asian markets, Nikkei is trading lower.
Nifty To Open flat, All Eyes on FOMC Meet Next Week
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