SGX Nifty up 65 points; here's what changed for market while you were sleeping

3 weeks ago 34

Synopsis

Nifty 50 has formed bearish candles for three consecutive days. If the index sustains below 17950 points, then a further fall towards 17777-17700 zones can be seen. In case of an upward move, hurdles for the index are placed at 18018 and 18081 levels.

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Encouraging inflation data both in the US and India are likely to help domestic equities snap a three-day losing streak on Friday. But the overall upside may be limited, as investors would avoid aggressive bets ahead of the weekend.

Here's breaking down the pre-market actions:

STATE OF THE MARKETSSGX Nifty signals a positive startNifty futures on the Singapore Exchange traded 66.5 points, or 0.37 per cent, higher at 17,984.50, signaling that Dalal Street was headed for a positive start on Friday.

  • Tech View: Nifty 50 has formed bearish candles for three consecutive days. If the index sustains below 17950 points, then a further fall towards 17777-17700 zones can be seen. In case of an upward move, hurdles for the index are placed at 18018 and 18081 levels.
  • India VIX: The volatility gauge ended 1% down at 15.2750 points on Thursday.

US stocks riseUS stocks closed higher on Thursday, extending recent gains as data showing a fall in consumer prices in December bolstered expectations of less aggressive interest rate hikes from the Federal Reserve.

  • Dow gains 0.6%
  • S&P 500 up 0.3%
  • Nasdaq rises 0.6%

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