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NIFTY WRAP UP & FORECASTING

September 21, 2021

The BSE sensex rose 514 points to end at 59,005 by adding 514 points in intra-day session and the Nifty close the day at 17,566, up 170 points    

On the Upside: JSW Steel, ONGC, Bajajfinance, Indusind Bank

On the downside-Maruti, BPCL, Heromoto, BajajAuto

 

Tech View:-We have witnessed Sharp recovery from bottom and closed a day at 17566  and formed a bullish candle on daily chart after two bearish candles. Now going forwards 17600-17660 will act as resistance zone also  supports are placed at 17500-17430 any break near said levels will be again buying opportunity .

European & USA markets:

@ IST 4:15 European markets were trading atPositivenote. Where the Germany’s DAX trading UPby 1.42 %, Other hand France’s CAC40 indexrunningPositive by 1.42% where, England’s FTSE100 indexPositiveby 1.41%.

Where; wall street @ IST 4:15  The DOW future contract tradingpositve 301 points, or 0.89%,S&P 500 Future [email protected] 35 points, or 0.80%, Where Nasdaq100 futurepositive113 points, or0.5%.

 

Global News Analysis:

 

HONG KONG : Persistent default fears eclipsed efforts by China Evergrande Group’s chairman to lift confidence in the embattled firm on Tuesday, as Beijing showed no signs it would intervene to stem any domino effects across the global economy.

SINGAPORE  – Asian stocks struggled to shake off contagion fears on Tuesday and selling pressure persisted amid concern that troubles at indebted developer China Evergrande could ripple across the world economy, markets and financial system

USA:-A top U.S. investment bank cut China’s economic growth forecast on Tuesday for the next three years thanks to the combination of the Delta variant outbreak and tightening controls on the property and the infrastructure sector.