Global Markets

Dow Jones -348 on US markets

Futures for the Dow: +38 points

Mixed Asian market

(Adjusted) GIFT Nifty: -80 points

Data Analysis

Technical Outlook

Nifty (Spot)

• The 20-DMA of the Nifty has been breached, which can cause more profit taking.
• An immediate support is 19300, and the following significant support will be 18888.
• The 20-DMA around 19625 will now present a direct obstacle.

Bank Nifty (Spot)

• Banknifty also fell below its 20-DMA, although a crucial demand area is between 44650 and 44500.
• We might anticipate increased pressure in the direction of 43800 below 44500.
• The 20-DMA at about 45400 will now present a direct challenge.