Nifty to open lower, shed 5 points: Dynamic Levels

Dynamic Levels' Market Outlook:

US markets were down on Friday due to latest tariffs, markets now wait for China to respond. On Friday, the US markets fell sharply from its highs of 2664 to close at 2605.75, down by almost 60 points. In an announcement that came on, April 5, 2018 President Donald Trump instructed the US trade representative to consider slapping an extra USD 100 billion in tariffs on Chinese goods.

The latest move is a continuation of a growing trade dispute between the two countries. Trump previously announced USD 50 billion in proposed tariffs on goods  imported from China, which china retaliated by announcing additional tariffs on USD 50 billion of US goods. China will impose additional tariffs of 25 percent on 106 US  goods including soybeans, autos, chemicals, some types of aircraft and corn products, among other agricultural goods.

Thus Global as well as domestic market traded volatile amid of the trade war fear between world's largest economies US and China.

Last week, Indian benchmark index Nifty closed at 10332 rose by 2.15 percent. The Nifty index made a high of 10350 and made low of 10111. In the current expiry, FII and PRO in combined have bought 84161 contracts in Index Options.

Small cap index closed at 8205 after making low of 8098. The index rose by 413 points or 5.3 percent from its previous week close.

Nifty Future is opening gap down by 5 points against Friday’s close of 10353, as indicated by SGX Nifty which is currently trading at 10335.

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