iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Indian equity markets look set to see another day of volatility today

27 Mar 2023 , 09:03 AM

Indian equity markets look set to see another volatile day today. Most other Asian markets are trading in red today. Uncertainty regarding the banking crisis was reinforced on Friday after the sell-off in the stock of Deutsche Bank. The bank’s stock price fell by 8.53% on Friday. 

US markets saw another volatile day on Friday. European stocks saw sell off. Dow Jones braved the storm. It closed higher by 136 points after seeing intraday gyrations of over 500 points. Nasdaq also closed higher by 36 points. That makes it the best performing index in 2023, up year-to-date by 12%. Bond yields hit 3.37%. US dollar index fell to 103. Crude oil saw sharpest fall in over 2 years.

 Japanese ‘Nikkei’ is trading higher by 75 points in early trade. Chinese stocks are seeing volatility. Hang Seng is trading lower Most Chinese ‘A’ group stocks are seeing profit booking.

Nifty saw a day of volatile trade on Friday. Weak global cues from European stocks and US futures prompted fresh shorting on the index. This drove it to the lows for the day in the last hour. Nifty closed lower by 130 points. Bank Nifty closed lower by 220 points. Mid-caps saw weakness.  Collateral damage saw  Nifty small cap 100 index close lower by 1.7%.

Technical View: Nifty is likely to find support at around 16900. 17350 will act as resistance. Bank Nifty is likely to find support at around 39000. 40400 is likely to act as resistance on the upside.

Trading call:(1-14 days):  BUY Hindustan Petroleum March future @ 238-241. Stop loss: 234.2.  Target: 244 .

Derivative call-time period: (1 months): BUY BPCL March future @ 345-348. Stop loss: 339.5. Target: 354.

 

 

 

explored-media

Related Tags

  • NSE
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.