Nifty futures closed positive at 14,724 level with 0.35% gain
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Nifty futures closed positive at 14,724 level with 0.35% gain

Nifty

Nifty futures gained 0.35% to close positively at 14,724. On the shares front, Tata Steel NSE 6.54%, Tata Motors, SAIL, Hindalco NSE 5.36%, Cummins India, Nalco, UPL, GAIL NSE 3.19%, Siemens, BPCL, Tata Chemicals, Jubilant FoodWorks, NMDC saw a spurt in trade setup Has gone. , Vedanta, Motherson Sumi NSE 1.83% and JSW Steel but weak in Bank of Baroda, Kotak Bank, IGL, Godrej Consumers, MGL, Maruti, Cadila, HCL Tech NSE-1.11% and Glenmark.

On Tuesday, the Nifty opened higher and reached near the 14,650 level. It respects the previous day’s low but failed to rise above the instantaneous barrier at 14,850 and low drift. The index finally ended with a gain of nearly 40 points after profit-booking in the last five sessions.

Bank Nifty

The bank Nifty opened with again but failed to maintain the initial hurdle at the 35,700 level. Banking stocks saw selling pressure, and consequently, the index broke the 35,000 level and closed the day with a loss of about 140 points. This constituted a bearish candle on the daily scale and continued to create lower highs and lows for the fifth consecutive season. As long as the index remains below the 35,700 level, weakness may continue and move towards the 34,500 and 34,250 levels, while the major hurdle has shifted to the 36,000 level.

Asian

Asian shares were higher on Tuesday, despite selling shares in technology companies on Wall Street.

Japanese markets were closed for national holidays. South Korea’s Kospi slipped 0.4% to close at 3,066.60 in morning trade. Australia’s S&P / ASX 200 rose 0.6% to 6,821.70. Hong Kong’s Hang Seng jumped 1.2% to 30,681.83, while the Shanghai Composite gained 0.3% to 3,653.62.
On Wall Street, the S&P 500 fell 0.8% to 3,876.50, increasing its deficit for the fifth straight day. The benchmark index was divided equally between winners and losers, but technology stocks and companies that rely on consumer spending bear the brunt of sales. Apple fell 3%, Microsoft fell 2.7%, Tesla dropped 8.5% and Amazon lost 2.1%.

The Dow Jones Industrial Average rose 0.1% to 31,521.69. Nasdaq closed down 2.5% at 13,533.05. The Russell 2000 index of small companies gave up 0.7% to 2,251.07.
In energy trading, US benchmark crude rose 76 cents to $ 62.46 a barrel in electronic benchmarks on the New York Benchmark Exchange. It rose from $ 2.44 to $ 61.70 per barrel on Monday. International standard Brent crude rose 91 cents to $ 65.27 a barrel.

In currency trading, the US dollar was down from 105.08 yen to 105.02 Japanese yen. The euro is priced at $ 1.2167 from $ 1.2157.

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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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