MARKET VIEW
GLOBAL MARKETS
Dow Jones fell 112.96 points, or 0.34 percent, to 33,518.
S&P 500 lost 2.99 points, or 0.08 percent, to 3,892
Nasdaq Composite added 66.36 points, or 0.63 percent, to 10,635.
Nikkei 225 declined 0.27% and the Topix declined 0.48 percent as consumer prices in Japan’s capital city rising 4 percent in December on an annualized basis, beating expectations for a 3.8 percent rise.
INDIAN MARKETS
Sensex rallied 847 points to 60,747, while the Nifty50 rose 242 points to 18,101 and formed a bullish candle on the daily charts, making higher high higher low formation. Banknifty gained 394 points closed at 42583.
Foreign institutional investors (FII) net sold shares worth Rs 203.13 crore, while domestic institutional investors (DII) net bought shares worth Rs 1,723.79 crore.
TODAY’S VIEW
The market is expected to open flat as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 38 points.
As per the pivot charts, we have the key support level for the Nifty at 17,981, followed by 17,933, and 17,854. If the index moves up, the key resistance levels to watch out for are 18,138, followed by 18,186 and 18,265.