Global Markets

Markets in the US: Dow Jones +176

Futures for the Dow: -40 points

Asia-Pacific markets:

Gift Nifty: +40 (Adjusted) points

Data Analysis

Technical Outlook

Nifty (Spot)

• In contrast to the 10-DMA of 19750, the Nifty respected its 20-DMA.
• We can see a short-covering move into the 19850-19900 region if prices rise above 19750.
• We can anticipate a pullback if it drops below its 20-DMA.

Bank Nifty (Spot)

• Similarly to Banknifty, 45800’s 10-DMA presents an immediate challenge.
• We can see a short-covering move towards the 46200-46400 region if prices rise above 45800.
• We might anticipate a decline towards the 44500 level if it drops below the 45200 level.