GIFT Nifty down 5 points; here's what changed for market while you were sleeping
«We expect the gradual up move in the market to continue given the positive macro and micro factors. We suggest investors to look for a buy on dips strategy as the Q1 earning season is expected to be healthy,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a shift trading range in between 19400 to 20000 zones while an immediate trading range in between 19550 to 19900 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded 6 points, or 0.03 per cent, lower at 19,797.50, signaling that Dalal Street was headed for muted start on Wednesday.
Tech View: Considering the sharp runup, there can be consolidation. However, the overall trend is positive, and in case a dip occurs it should be bought into. On the upside, the short-term target is placed at 19900. In terms of levels, 19630 – 19580 shall act as a crucial support zone while 19880 – 19900 shall act as an immediate hurdle zone. India VIX: India VIX, which is a measure of the fear in the markets, rose 3.49% to settle at 11.71 levels.US stocks upU.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years.
Dow rises 1.06%, S&P 500 gains 0.71%, Nasdaq up 0.76%Oil risesGlobal oil prices rose on Wednesday, boosted by China's pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories. Brent futures rose 9 cents, or 0.1%, to $79.72 a barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude was steady at $75.75 per barrel.Asian shares advanceEquity
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