GIFT Nifty up 10 points; here's what changed for market while you were sleeping
«The market is maintaining its optimism. However, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range,» said Vinod Nair, Head of Research at Geojit Financial Services. Option data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19250 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded 12 points, or 0.06 per cent, higher at 19,505.50, signaling that Dalal Street was headed for muted start on Wednesday.
Tech View: The positive chart pattern like higher tops and bottoms is intact as per the daily timeframe chart and any weakness from here is likely to be a buy on dips opportunity. On the upper side, the area of 19450-19500 could be a strong overhead resistance. India VIX: India VIX, which is a measure of the fear in the markets, rose 1.39% to settle at 11.70 levels.Asian shares slideAsian equities opened lower Wednesday in subdued trading following a holiday for US markets. Treasury yields moved lower and major currencies were little changed.
S&P 500 futures were little changed as of 10:06 a.m. Tokyo time Nasdaq 100 futures fell 0.1% Japan’s Topix index fell 0.1% Australia’s S&P/ASX 200 Index fell 0.2% Hong Kong’s Hang Seng futures fell 0.4%Oil prices dipOil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August.Dollar steadyThe dollar drifted near the middle of its range of the past three
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