US markets closed strongly in the green yesterday. Dow Jones closed, up by 1.88%. Nasdaq closed, up by 2.05%. NYSE closed, up by 2.15%. S&P 500 closed, up by 1.97%.
Asian markets have opened in green today. Nikkei is up by 0.75%. Taiwan index is up by 0.55%. Shanghai index is up by 0.73%. South Korean Kospi is up by 1.57%.
Nifty saw another volatile day with morning fall of over 200 points being bought into with short coverings seeing the index swing into the green before last hour sell off again saw the index close in the red, down by 148 points. Bank Nifty was again the main culprit with the index swinging over 740 points before closing lower by 600 points. Mid-caps also saw profit booking. Nifty next 100 closed, down 0.85%.
Technical View: Nifty likely to find support at around 16800. 17200 is likely to act as resistance on the upside. Bank Nifty likely to find support at around 37800. 38700 is likely to act as resistance on the upside.
TRADING call (1-2 days) : BUY Adani Port October future at 828-832. Stop loss: 813.5. Target : 847.
Derivative call- time period:(1 month) : BUY Ultratech October future at 6180-6200. Stop loss: 6066. Target: 6315.
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