GIFT Nifty down 60 points; here's what changed for market while you were sleeping
«We expect the market uptrend to continue with stock-specific action. Global cues were weak due to the release of hawkish minutes of the Federal Reserve’s June meeting,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19200 to 19700 zones while an immediate trading range in between 19350 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded 61.5 points, or 0.31 per cent, lower at 19,488, signaling that Dalal Street was headed for negative start on Friday.
Tech View: Nifty reached the initial upside trajectory of 19500 levels, which is 1.236% Fibonacci projection of weekly latest bottom-top-bottom swings. Hence, a sustainable move above this hurdle could pull Nifty towards another resistance of this projection at 19800 levels in the coming weeks. Immediate support is at 19400 levels. India VIX: India VIX, which is a measure of the fear in the markets, fell 0.36% to settle at 11.84 levels.US stocks dipWall Street's main indexes ended sharply lower on Thursday in a broad sell-off after data showing a strong labor market boosted bond yields and fanned fears the Federal Reserve will be aggressive in raising U.S. interest rates.
Dow 1.07%, S&P 500 0.79%, Nasdaq 0.82%Asian stocks dropAsian shares dropped Friday after surprisingly strong private hiring data in the US roiled Wall Street, pushing down equities as Treasury yields moved sharply higher.Oil steadyOil prices were largely unchanged on Friday, but set to post weekly gains, as fears of higher U.S. interest rates that could dampen energy demand were offset by signs of
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