NIFTY WRAP UP & FORECASTING

The Sensex ended day with 58490, down by 525 and the Nifty close the shop at 17373 with loosing 211 Points.

On the Upside: Hindustanunilver, Bajaj Finance, ITC, Nestleind
On the downside- Tatasteel, JSW steel, Hindalco, UPL

Tech View:- Index has open gap down today due to global data was negative, Where nifty closed the day at 17373, by loosing 211 points and global sell off resulted bearish sort of candle pattern on daily chart, Any breakdown below 17350 market can get drag 17300-17250 this zone will acting as a support zone, going forward upside 17450 and 17500 will be acting as a resistance zone.

European & USA markets:
@ IST 4:15 European markets were trading atNegativenote. Where the Germany’s DAX trading Down by 2.34 %, Other hand France’s CAC40 indexrunningNegativeby 2.24% where, England’s FTSE100 indexNegativeby 1.70%.
Where; wall street @ IST 4:15 The DOW future contract tradingNegative513 points, or 1.49%,S&P 500 Future trading Negative @56.50 points, or 1.27%, Where Nasdaq100 futureNegative 152.50 points, or0.99%.

Global News Analysis:
HONG KONG :World shares skidded and the dollar firmed on Monday ahead of a week packed with global central bank meetings, while debt troubles at property group China Evergrande dragged Hong Kong stocks towards to a one-year low.
Europe: Europe’s natural gas prices rallied, with traders seeking signs that Russia will send more fuel to the region that would help alleviate the supply crunch. The gas crisis is sending ripples through the region’s economy, with factories curbing output and U.K. energy suppliers going out of business. With the heating season just two weeks away, there are no real indications that the rally will slow anytime soon.
Global:- Stocks of steel and iron-ore producers took a knock in global markets Monday on fears over the cascading impact of the crisis unfolding at real estate developer China Evergrande.