Nifty Future is opening gap up by 44 points against yesterday’s close 10495 as indicated by SGX Nifty which is currently trading at 10539, says a report by Dynamic Levels.
Dynamic Levels' Market Outlook:
The Indian benchmark index Nifty yesterday closed with modest losses, as the PSU bank stocks dragged the market down, after Punjab National Bank was detected with USD 1.8 billion fraud at a single branch in Mumbai as well as the new NPA rules stipulated by the RBI.
The index opened higher at 10586 but witnessed selling in late afternoon to close at 10501 after making a low of 10457. The index declined 39 points or 0.37 percent from its previous close.
The immediate support for Nifty is 10398 and the hurdle for upside is 10638; breaching any of this level may decide the further trend of the market.
The Cash Market Benchmark Index, Small Cap also traded weak and lost 70 points or 0.68% from its previous close. The index opened at 8690 and closed at 8574 after making a high of 8704.
Nifty Future is opening gap up by 44 points against yesterday’s close 10495 as indicated by SGX Nifty which is currently trading at 10539.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.