Today’s Market News :
Nifty and bank nifty
Are in the same pattern
Running in channel.
I am expecting the correction in In Bank nifty 51650 51400 key support levels.
In nifty 25250 and 25130 important support levels.
It would be a risk to trade without correction Any time traders can be trapped
The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Monday following gain in global markets
Global Markets
Gift Nifty:
Gift Nifty was trading around 25,432 level, a premium of nearly 60 points from the Nifty futures’ close, indicating a positive start for the Indian stock market indices.
Asian Markets:
Asian markets opened mixed on Monday after the downbeat China’s economic data.
Wall Street:
US stock market ended higher on Friday on hopes of a bigger interest rate cut by the Federal Reserve this week
Fll and DII Data for India:
– Foreign Institutional Investors (FII): Net buyers of Indian shares worth ₹2364 crore.
– Domestic Institutional Investors (DII): Net sellers up to the tune of ₹2532 crore.
– The Nifty 50 index is currently trading at 25,400, up 0.5% from the previous day’s close.
– The top gainers in the Nifty 50 index are HDFC Bank, ICICI Bank, and Larsen & Toubro.
– The top losers in the Nifty 50 index are Tata Steel, JSW Steel, and Hindalco Industries.
Options News
– The Nifty 50 options are seeing increased activity, with a total traded volume of 1.5 million contracts.
– The most active options contracts are the 25,500 call option and the 25,000 put option.
– The options market is indicating a bullish sentiment, with a put-call ratio of 0.7.
Market Analysis
– The Indian stock market is expected to remain volatile, with the Nifty 50 index trading in a range of 25,000-26,000.
– Analysts are recommending a buy-on-dips strategy, with a target of 26,500 for the Nifty 50 index.
– The options market is indicating a potential breakout above 26,000, with a target of 27,000.
Economic News
– The Indian economy is expected to grow at a rate of 7% in the current fiscal year.
– The inflation rate is expected to remain under control, at around 4%.
– The Reserve Bank of India is expected to keep interest rates unchanged in the upcoming policy meeting.
