SGX Nifty sits in red, 17800 to act as resistance for Nifty; 5 things to know before today’s opening bell

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Ahead of the last trading session of the week, SGX Nifty was down in the red, suggesting a tepid start to the day’s trade while global cues were mixed.

Domestic stock markets soared higher on the weekly futures & options expiry session on Thursday. S&P BSE Sensex rallied 515 points or 0.88% to settle at 59,332 while the NSE Nifty 50 index jumped for the fourth consecutive session to end at 17,659. India VIX has meanwhile, tanked 6% to sit just above 18 levels. Ahead of the last trading session of the week, SGX Nifty was down in the red, suggesting a tepid start to the day’s trade while global cues were mixed. Wall Street equity indices closed in opposite direction on Thursday. 

Global Watch: Dow Jones closed 0.08% higher while the S&P 500 slipped 0.07% and the NASDAQ fell 0.58%. Among Asian stock markets, Shanghai Composite, Hang Seng, KOSPI, and KOSDAQ were in the red. TOPIX and Nikkei 225 were up with gains. 

What do the charts say: Nifty has been trading above 200-DMA as well as with the support of 61.8% Fibonacci retracement I.e., 17360 of its previous down moves from 18630 to 15160 which indicate strength for upside, according to Palak Kothari, Senior Technical Analyst, Choice Broking. 

Also Read: BSE, NSE settlement holiday on 16 Aug, share trading to remain open; check what happens to this week’s trades

Levels to watch out for:

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