- Rupee rises to 70.46 against US dollar
- Crude Oil Witness Selling Pressure.
- Nifty Futures contracts and Bank Nifty Futures contracts surge in open interest, mainly fresh short positions.
- U.S. stock futures tumbled on Thursday and Asian markets followed after Canadian authorities arrested a top executive of Chinese tech giant Huawei Technologies
- SGX Nifty indicate a flat to negative opening for the broader index in India
- Yesterday market gave a mixed reaction to the policy decision, which largely remained a non-event.
- Bears likely to take back control
- Provisional data released by the stock exchanges showing that DII and FII, both, were net sellers of Indian stocks yesterday, also weighed on the sentiment.
- The market breadth, indicating the overall health of the market, was weak.
- Theoretically, 200-day moving average is expected to hold as support in the immediate near term.
- If Nifty50 decisively breaches its 200-day moving average, then this correction will eventually get extended towards 10,450 levels.
- Nifty likely to face resistance at 10820 and support at 10740.
Nifty50 Chart Analysis: Bearish Candle
- Nifty formed bearish candle on the daily charts.
Disclaimer: The views expressed by investment expert on https://www.rollnreel.com are his own and data available from nseindia.com. Rollnreel.com advises users to check with certified experts before taking any investment decisions.