Ahead of Market: 10 things that will decide D-Street action on Tuesday
The NSE Nifty 50 index settled 0.10% lower at 19,732, and the S&P BSE Sensex fell 0.17% to 66,167.
Here's how analysts read the market pulse:
«The daily and hourly momentum indicators provide divergent signals and in such a scenario a consolidation appears with high probability. Contraction of the Bollinger bands also supports our sideways outlook on the Index.
The range of consolidation is likely to be 19500 – 20100 from a short-term perspective,» said Jatin Gedia, Sharekhan by BNP Paribas
Rupak De, Senior Technical analyst at LKP Securities, said, «Over the near term, the index may experience volatility, with support placed at 19,700. A drop below 19,700 may take the index toward the range of 19,600-19,550.
However, the „buy on dips“ strategy is expected to remain the preferred approach as long as it sustains above 19,550.»
That said, here’s a look at what some key indicators are suggesting for Tuesday's action:
US market
Wall Street's main indexes advanced on Monday as investors awaited key economic data and major corporate earnings this week for clues on the U.S. economy, while also monitoring the Israel-Hamas conflict.
Long-dated U.S.
Treasury yields gained as the United States' strived to prevent an escalation in tensions, with Secretary of State Antony Blinken arriving in Israel for talks after top U.S. officials warned the conflict could worsen.
At 9:43 a.m.
