NIFTY WRAP UP & FORECASTING

The Sensex index advances 176 points, or 0.31per cent, and closed at 56,125 levels while the nifty 50 index ended at 16,705, levels, UP by 68 points or 0.41 per cent.

On the UPside: Ultracemco, Hindalco, Sbilife, LT

On the downside- Infy, Indusindbank, Tataconsumer, m&m

Tech View:-The Market have closed 16705 which is the great sign, If the index breaches the level of 16720-16740 and is able to sustain above this, it may gain momentum and hit 16950-17000 levels. RSI and MACD indicated Positive.

European & USA markets:
@ IST 4:40European markets were trading at Negative note. Where the Germany’s DAXtrading down0.02 %,Other handFrance’s CAC40 index downby 0.07%and England’s FTSE100 index down by 0.04%.
Where; wall street @ IST 4:40 The DOW future contract trading Positive79points, or 0.22%,S&P 500 Future trading Positive @ 13points, or 0.29%, Where Nasdaq100 future Positive50points, or0.32%.

Global News Analysis:

USA:- Jerome Powell will likely signal when the Federal Reserve intends to start tightening monetary policy by reducing its bond purchases. HP (NYSE:HPOs warning about lengthening backlogs deepens the gloom for semiconductor users. Peloton slumps after cutting prices for its most popular bike. China issues yet more rules to curb the power of its Internet companies, and oil is up as Tropical Storm Ida starts to force operators in the Gulf of Mexico to shut down. Here’s what you need to know in financial markets on Friday, 27th August.
China:- China’s Cyberspace regulator issued a new set of draft regulations with potentially far-reaching impacts on the country’s Internet companies, the latest in a series of regulatory actions designed to crimp both their economic and their potential political power.
Crude Oil: Crude oil prices rose ahead of Jerome Powell’s speech, which is likely to influence prices later in the day through its effect on the price of the dollar. A higher dollar will likely weigh on prices, and vice versa.