NIFTY WRAP UP & FORECASTING

The BSE sensex closed the shop at 60,284 UP by 148 points and the Nifty close the day at 18,004 by adding 58 points.

On the Upside: Titan, Bajajauto, Bajajfinser, SBIn

On the downside-HCL tech, Hdfc life, Caol India, Techm

 

Tech View:- We have witnessed choppy day with positive area where; Index managed to closed above 18000 mark with gain almost 0.32%  and formed bullish candle on daily chart &Index shut at 18004 adding 58 point, Going forwards immediate resistance zone will be 18100-18200. Supports for nifty is coming near 17850-17950 zone. RSI and MACD indicating positive trend may continue.

 

European & USA markets:  @ IST 04:15 European markets were trading atNegativenote. Where the Germany’s DAX trading Down by 0.28 %, Other hand France’s CAC40 indexrunning Negativeby 0.42% where, England’s FTSE100 indexNegativeby 0.32%.

Where; wall street @ IST 04:15The DOW future contract tradingNegative 18points, S&P 500 Future tradingPositive@  0.25 points, Where Nasdaq100 futurePositive 27 points.

 

Global News Analysis:

 

China – Authorities from Beijing to Chennai scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic recovery. .

LONDON  -The Japanese yen held near its weakest levels versus the U.S. dollar in almost three years on Tuesday as a relentless rise in Treasury yields widened the yield advantage in favour of the greenback.

GENEVA – The World Health Organization is awaiting full clinical data on the antiviral pill made by Merck & Co Inc to treat mild-to-moderate COVID-19 patients, a WHO spokesperson said on Tuesday, a day after the company said it had applied for U.S. emergency use authorisation.

European:- shares slipped on Tuesday as investors feared that soaring commodity prices would hamper a recovery in corporate profit, with fresh signs of troubles at property developer China Evergrande also hitting confidence.