New Delhi: The last trading day of the week for the Indian stock market. Foreign signals are very good for the markets. SGX Nifty opened with a gain of 30 points and is currently trading around 11880. Dow Futures and Nasdaq Futures are also strong. Dow futures are trading with a strength of 120 points, while Nasdaq futures are trading more than 30 points.
Talking about the rest of the Asian markets, after 8 days, the Chinese market is open today, Shanghai Composite is trading up by 50 points, while the markets of Korea and Taiwan are closed today. Japan’s Nikkei opened with a decline of 18 points, Hong Kong’s market Hang Seng is trading with a strength of 50 points.
How were foreign markets yesterday?
US markets traded with fluctuations yesterday, although the Dow Jones closed 122 points strong after trading in the 200-point range, the Dow closed yesterday at a month high. The Nasdaq closed with a strength of 0.50 percent, the S & P500 was up about a percent. Economy stocks such as banks, industrial and energy stocks witnessed heavy buying yesterday.
European markets closed yesterday with a gain of half to one per cent. Germany’s DAX 0.88 per cent, France’s CAC 40 0.61 per cent and London’s FTSE 100 closed up 0.53 per cent.
What are foreign signs?
Negotiations on the Stimulus Package have once again gained momentum in the US. President Trump has made a resolution, which the Democrats have rejected, he says that it will not benefit all sectors. Controversy has arisen regarding the package of airlines in the proposal.
On the other hand, there were also weekly unemployment figures in the US which were slightly higher than the estimates, but the markets did not react much, because for the last four weeks, the figures had been coming by the estimates.
The rise in crude oil continues, crude oil has reached the height of 5 weeks. Brent crude has seen a rise of 3%, it is trading above $ 43. OPEC says that bad times have passed for crude oil.
Strategy on the market?
According to Anil Singhvi, managing editor of our affiliate channel Zee Business, “Today, credit policy and signals from global markets are also good.” Today, we should look at the market in two parts, first before the credit policy and second after the credit policy. The market will appear to be trading within a limited range of 100 points before the credit policy. It will be in the range of 11800-11900. During this time, light shopping will also be done. There is little hope that the Reserve Bank will make any change in the interest rates, but if there is a big announcement in the commentary of the RBI Governor, the market will give a reaction. 4 trading sessions have been very good for the market, the weekly expiry is also done, now the emphasis will be on fresh buying, if stock is special, it will be better.
According to Anil Singhvi, ‘Today the support range for Nifty is 11725-11775 while the above range will be 11950-12000. The support range for Bank Nifty is 22850-22950 and the upper range will be 23450-23650.