Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27 points, or 0.26 percent. Nifty futures were trading around 10,515 on the Singaporean Exchange.
Failure to cross this resistance of 10,880 can trigger a correction to between 10,715 and 10,530. However, a breakout from 10,880 can extend the up move to levels of 11,050-11,185.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 60 points or 0.57 percent. Nifty futures were trading around 10,443-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 29 points or 0.28 percent. Nifty futures were trading around 10,497-level on the Singaporean Exchange.
On the lower side, 10100 will act as a strong support and till the time index is holding above this level every meaningful correction is an opportunity to enter in the long position.
The small and midcaps are now around 20 and 14 percent respectively below the record peaks, Nifty’s loss is only around 9.5 percent.
For the month of March 2018, sales grew 10 percent on a YoY basis, better than the industry growth of 6% and ahead of estimates.
A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.
"The range of 10,300-10,500 levels for the Nifty will be crucial in the current expiry and the move is expected to remain volatile along with negative movement, as indicated by option open interest concentration," says Shitij Gandhi of SMC Global Securities Ltd.
If the Nifty fails to cross the immediate resistance of 10,455 can resume the choppy and volatile trading sessions dragging the index lower to levels of 10,155-10,095.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 16.5 points or 0.16 percent. Nifty futures were trading around 10,415-level on the Singaporean Exchange.
We expect a near-term bounce in the index; however, such bounce will not lead to a significant trend reversal and any up move towards 10400-10480 levels can be used to exit from trading long positions.
In the current week, selling pressure was intensified on the breach of lower band of the broader consolidation range of 10300.
We expect any bounce back to be mild and short-lived since any retracement will be utilized by lead players who will further jump and cap upside.
The overall data is still running negative for the markets and we can see further selling pressure coming into the market which can drag Nifty towards 10100 levels in coming sessions.
The Nifty50 is likely to open flat on Wednesday tracking muted trend seen in other Asian markets.
Nifty may find strong support around 10450-10500 level, where Puts have been written. To conclude, our advice would be to remain long with the stop loss of 10450 level.
The nature of the alleged scam reduces the confidence level in the bank, and PSUs in general.
It would be advisable to initiate fresh shorts only below 10300 in the Nifty. Resistance for the same would remain in the range of 10600-10640.
We expect volatility to extend further and one needs to trade on strict levels as it is buy on the dip and sell on rise market for the near term.
A close beyond the 38.2% Fibonacci retracement level placed at 10,625 can trigger short covering rallies to levels of 10720-10820.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 205 points or 1.95 percent. Nifty futures were trading around 10,355-level on the SGX.
The Nifty50 is likely to open with a gap on the higher side on Thursday tracking SGX Nifty which was signaling an up move of over 70 points in morning trade. The index closed 21 points lower at 10,476.
Most analysts are advising investors to stay away from the small and midcap stocks and remain focused on the big names.
The SGX Nifty is currently trading at 10,370, down 3.04% or 325.50 points