Global Markets

Markets in the US: Dow Jones -431 points

Futures for the Dow: -78 points

Asian markets: negative

(Adjusted) GIFT Nifty: -140 points

Data Analysis

Technical Outlook

Nifty (Spot)

• Nifty is probably going to start the day below support at 19500, which might push it below the 19300-19250 range.
• On the plus side, 19625 will operate as a quick roadblock whereas 19800 is a significant roadblock.
• Till Nifty trades below 19800, the texture is weak and a sell-on-rise strategy should be used.

Bank Nifty (Spot)

• In the event that Banknifty opens below the 44200 support level, a move toward the 43700-43300 range is possible.
• On the plus side, 45000 is a significant obstacle while 44600 is an urgent one.
• Sell on climb until Banknifty trades below 45000 as the texture is weak.