US markets saw a smart rally yesterday as oversold markets reacted positively to results from Software & Banks. Dow Jones gained over 330 points. Nasdaq rallied over 200 points or 1.7% . Bond yields eased to 3.04%. Oil also saw mild decline to US$94 per barrel.
Asian markets have opened in the green led by the Japanese 'Nikkei'. Nikkei is trading higher by over 270 points in early trade. The Hong Kong index "Hang Seng '' is seeing its best rally in over 3 months as easing of policy rates by the Chinese Central Bank has caused banks & realty stocks to outperform.
Nifty saw another day of volatile trade with the last half hour wiping out all gains as overleveraged positions were squared up with local mutual funds booking profit. Nifty saw intraday swings of over 240 points before closing lower by 82 points. Bank Nifty swung over 674 points before closing lower by 87 points. Nifty small-cap 100 index closed higher by 0.45%. Investors continue to buy mid-cap stocks.
Technical View: Nifty likely to find support at around 17500. 17950 is likely to act as resistance on the upside. Bank Nifty likely to find support at around 38800 while 39700 is likely to act as resistance.
TRADING call (1-2 days) BUY Hero Moto September future @ 2810-2830. Stop loss: 2763. Target: 2880
Derivative call- time period:(1 month): BUY SAIL September future @ 80-80.5. Stop loss : 78.60. Target : 82
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.