Indian Equity Markets had a good session on Wednesday, following the positive global sentiments. The markets had a gap up opening and remained in green consistently throughout the day. Almost every sector remained positive, more noticably Real-estate and IT. Mid-cap space too did pretty well. Nifty Volatility Index (VIX) declined by more than 1% on the back of consistency shown by the markets.
Provisional data released by exchanges gave somewhat mixed picture. In the Capital Market segment, Foreign Institutional Investors were net buyers by around 300 Crores while in the Derivatives segment, some major buying was seen in Options segment by around 4000 Crores. US markets have opened in red on the back of Bernanke speech on US economy. Also, the results season has not started on the optimistic note hence putting more pressure on the indices.
On the basis of these events, we might see a gap-down opening tomorrow morning in Asian bourses. Nifty has an intermediate support @ 5350 and resistance at 5430-5440. In case the Nifty trades in 5350-5360 range tomorrow, one may buy Nifty with target price of 5375 and Stop-loss of 5335. On the other side, if Nifty reaches its resistance range of 5425-5435, one may sell Nifty with stop-loss of 5455 and target price of 5410.
Wishing you a great trading day tomorrow!!
Provisional data released by exchanges gave somewhat mixed picture. In the Capital Market segment, Foreign Institutional Investors were net buyers by around 300 Crores while in the Derivatives segment, some major buying was seen in Options segment by around 4000 Crores. US markets have opened in red on the back of Bernanke speech on US economy. Also, the results season has not started on the optimistic note hence putting more pressure on the indices.
On the basis of these events, we might see a gap-down opening tomorrow morning in Asian bourses. Nifty has an intermediate support @ 5350 and resistance at 5430-5440. In case the Nifty trades in 5350-5360 range tomorrow, one may buy Nifty with target price of 5375 and Stop-loss of 5335. On the other side, if Nifty reaches its resistance range of 5425-5435, one may sell Nifty with stop-loss of 5455 and target price of 5410.
Wishing you a great trading day tomorrow!!
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