MARKET VIEW
GLOBAL MARKETS
Dow Jones ended down 35.85 points, or 0.11 percent, at 33,890.
S&P 500 lost 25.44 points, or 0.62 percent, to 4,111.04.
Nasdaq Composite dropped 119.51 points, or 1 percent, to 11,887.45.
In Australia, S&P/ASX 200 fell 0.1 percent as investors await Reserve Bank of Australia’s rate decision. Nikkei 225 gained 0.34 percent and Topix rose 0.31 percent. The Kospi in South Korea was up 0.27 percent.
Oil prices edged higher in choppy trading on Monday, Brent futures for April delivery rose $1.05, or 1.3 percent, to $80.99 a barrel.
INDIAN MARKETS
Sensex fell 335 points to 60507, while the Nifty50 declined 89 points to 17765 amid volatility and formed an inside bar and bearish candlestick pattern with longer lower shadow on daily charts. Banknifty fell 125 points to 41375.
Foreign institutional investors (FII) sold shares worth Rs 1,218.14 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,203.09 crore.
TODAY’S VIEW
The market is likely to open Gap up as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 91 points.
As per the pivot charts, the key support level for the Nifty rests at 17,714, followed by 17,685, and 17,637. If the index moves up, the key resistance levels to watch out for are 17,810, followed by 17,840 and 17,888.