#NIFTY50 Outlook for tomorrow
1.SGXNIFTY - +0.64% Up( Adjusted)
2. INDIAVIX - AT -4.60% down
3. Global market
- Nasadq- +0.24% Up
-FTSE- -0.10% Down
-DAX- -0.28% Down
-Hang Sang- -0.18% Down
• News which impact the market-
1. Rising corona fear now looks slow as recovery cases are increasing and new cases are decreasing.
2. Fed official says need to consider tightening
European stocks developing bearish pattern
Bitcoin struggles
Key Events
Contracts on the Dow, S&P, NASDAQ and Russell 2000 declined in trading on Thursday, and European stocks fluctuated as the market attempted to price in the odds of monetary policy tightening by the Federal Reserve and the effect it could have on the economic recovery after pandemic-related lockdowns.
Oil retreated on the possibility of Iranian supply returning to markets.
4. In a huge relief to banks struggling to get their money back from Vijay Mallya, a PMLA court restored to the lenders the properties ED had seized from the fugitive liquor baron.
5. COMMODITIES MARKET IMPACT ON NIFTY- Rising in Commodity.
• #Copper prices surged above $10,000/tonne on LME as bleak prospects of further monetary policy tightening by the PBOC supported market sentiments. The base metal recouped some of the recent losses on inventory deficit and dollar weakness.
• Gold prices declined by Rs 385 to Rs 48,810 per 10 gram at Mumbai retail market on rupee appreciation and lacklustre global cues. The precious metal showed signs of exhaustion as it is unable to hold above $1,900/oz psychological level as Treasury yield spike ahead of US GDP data to be released later in the day.
• Volatility may continue in commodities
6. FIIs net sell (Rs.660.90 Cr )
7. FII - sold today and DII bought net Rs. 112.38 Cr.
8. NIFTY50 is planning for new high
Banks, Auto, Metals and PSU's will support nifty.
Levels for nifty -
R1- 15,360
R2- 15,430
R3- 15,500 ( very strong)
S1- 15,250
S2- 15,195
S3- 15,070
• nifty look strong bullish. Go long with small Sl.
16,000 for next month😅😉
Prediction for tomorrow- NIFTY likely to open GAP UP
Can take trade using above support and resistance.