Moneycontrol
Last Updated : Jan 31, 2018 09:12 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: SGX trends hint at negative opening for Nifty; ICICI Bank Q3 results eyed

Asian markets were lower in early trade and trends on SGX Nifty indicate a negative opening for the broader index in India.



Asian markets were lower in early trade and trends on SGX Nifty indicate a negative opening for the broader index in India. Nifty futures were trading around 11,040-level on the Singaporean Exchange. Wall Street also stumbled as bond yields rise, health stocks fall

Indian market saw profit booking after rising for 5 out of 6 trading sessions ahead of the big event, ‘Budget 2018’. The index formed a Bearish Belt Hold kind of pattern on the daily candlestick charts which suggest caution for traders.

In Tuesday’s price action, Nifty50 opened at 11,120.85 and rose marginally to 11,121.10. The bears took control of D-Street in morning trade and pushed the index below its 5-days exponential moving average (DEMA). The Nifty slipped to an intraday low of 11,033 before it closing 80 points lower at 11,049.65.

According to Pivot charts, the key support level is placed at 11,015.37, followed by 10,981.03. If the index starts to move higher, key resistance levels to watch out are 11,102.57 and 11,155.43.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.

Other top headlines:

  • PSB recap bonds will be issued at 7.35-7.68%

  • Trump’s State of the Union address 2018: This is our new American moment, says the US President

  • Telcos commit Rs 740-bn investment into infrastructure to curb call drops

  • Amber Enterprises ends with 44% premium at Rs 1,237 on Day 1

  • India can’t ignore US corporate tax cuts: Arvind Subramanian

  • Only 28% of Urban India lives in rented houses: Economic Survey

  • ICICI Bank Q3 profit to be reported today may be lowest in 7 quarters

  • Firms can pay dues, update ownership details online: EPFO

  • 147 companies to report Oct-Dec quarter numbers today
First Published on Jan 31, 2018 09:07 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant