MARKET VIEW
GLOBAL MARKETS
Dow Jones rose 112.64 points, or 0.33 percent, to 34,302.61.
S&P 500 gained 15.92 points, or 0.40 percent, to 3,999.09.
Nasdaq Composite added 78.05 points, or 0.71 percent, to 11,079.16.
Japan’s Nikkei trade positive 0.07 percent in early trading. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, with hopes for a speedy Chinese reopening giving it a gain of 4.2 percent last week. Hang sang trading up by 0.45 percent and kospi is up by 0.74 percent.
INDIAN MARKETS
Sensex rallied 303 points to 60,261, while the Nifty50 climbed nearly 100 points to 17,957 and formed a bullish candle on the daily charts. Banknifty climbed 289 points to 42371.
On the weekly time frame, there was a long-legged Doji pattern.
Foreign institutional investors (FII) have net sold shares worth Rs 2,422.39 crore, domestic institutional investors (DII) have managed to offset the FII outflow, to major extent, by net buying shares worth Rs 1,953.40 crore.
TODAY’S VIEW
The market is expected to open flat today as trends in the SGX Nifty indicate a flat opening for the broader index in India with a positive bias.
As per the pivot charts, we have the key support level for the Nifty at 17,824, followed by 17,771, and 17,685. If the index moves up, the key resistance levels to watch out for are 17,996, followed by 18,049 and 18,135.