Nifty futures closed negative with a loss of 1.79% at 14,568
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Nifty futures closed negative with a loss of 1.79% at 14,568

The Nifty futures closed negatively at the 14,568 level with a fall of 1.79%. Among the special stocks, Asian Paint, Cipla NSE 2.17%, Aurobindo Pharma, Marico, Pidilite Industries and Tata Consumers saw a spurt in a trade setup, but Motherson Sumi, RBL Bank, Tata Steel, Tata Motors NSE-4.2.2%, PNB, M&M Weak in Finance, Indiabulls Housing Finance NSE -4.49%, Hindalco, Exide India, BEL, ZEEL NSE -3.50%, PVR, IndusInd Bank NSE -3.17% and Bharat Forge.

On Monday, the Nifty opened negative and remained under pressure throughout the day, as every small bounce sold out. The index failed to establish the high lows of the previous two sessions and broke its 50 DEMA. The weakness appeared across the road and the index finally ended with a loss of over 250 days. Now, it needs to cross above the 14,675 level to bounce towards the 14,800 and 14,900 levels, while the downside is immediate support is present at the 14,450 and then the 14,350 level.

Bank Nifty opened with a gap and continued to show weakness till the end of the session to the level of 33,200. It has been weakening the broader index for the past few sessions but has been facing hurdles at its 50 DEMA for the last four trading sessions. It has created a bearish candle on a daily scale and closed the session with a loss of about 900 points. Now it needs to cross the 33,500 level to bounce towards the 33,000 and 36,500 levels, while the downside is present at the 33,000 and 32,500 levels.

Asian stock markets overtook Wall Street on Wednesday after European governments stepped up the outlook for economic recovery.

Market standards in Shanghai, Tokyo and Hong Kong retreated.

Asian stock markets overtook Wall Street on Wednesday after European governments stepped up the outlook for economic recovery.

Market standards in Shanghai, Tokyo and Hong Kong retreated.

Asian stock markets overtook Wall Street on Wednesday after European governments stepped up the outlook for economic recovery.

Market standards in Shanghai, Tokyo and Hong Kong retreated.

Overnight, Wall Street gave up most of the previous day’s gains as technology, industrial and bank stocks fell.
The Shanghai Composite Index fell 0.6% to 3,392.00 and the Nikkei 225 in Tokyo fell 1.8% to 28,465.86. The Hang Seng in Hong Kong was up 1.4% at 28,090.38 points.

In South Korea, Kospi discounted 0.6% to 3,986.00. The S & P-ASX 200 rose 0.5% to 6,776.80 in Australia. New Zealand bounced back while Singapore bounced back.
On Wall Street, the benchmark S&P 500 fell 0.8% to 3,910.52 on Tuesday. The Dow Jones Industrial Average fell 0.9% to close at 32,423.15.

The dominating Nasdaq rose 1.1% in tech stocks to close at 13,227.70 points.

In Washington, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell pointed out that Congress should do more to limit economic damage. Powell stressed that he does not expect incentive programs to trigger inflation.

Bond yields, or the difference between market value and payment at maturity, narrowed as prices rose. The yield on the 10-year Treasury note fell to 1.63%, down from 1.70% from the previous week’s level.

The burden falls on banks and other financial companies, which yield as a benchmark for interest rates on mortgages and other loans. Bank of America fell 2.0% and Wells Fargo 1.9%. American Express slipped 2.8%.

In energy markets, benchmark US crude lost 2 cents to $ 57.74 per electronic trading on the New York Mercantile Exchange.

The contract fell from $ 3.79 to $ 57.76 on Tuesday after Germany’s lockdown was announced, raising concerns about a drop in industry and travel.

Brent crude used to price international oils, shed 1 per cent to $ 60.85 a barrel in London. It lost $ 3.83 from the previous session to $ 60.79.

The dollar was down from Tuesday’s 108.75 yen to 108.52 yen. The euro retreated from $ 1.1853 to $ 1.1848.

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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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