MARKET VIEW
GLOBAL MARKETS
Dow Jones rose 254.07 points, or 0.76 percent, to 33,629.
S&P 500 gained 47.2 points, or 1.19 percent, to 4,019.
Nasdaq Composite added 223.98 points, or 2.01 percent, to 11,364.41.
S&P/ASX 200 gained 0.12 percent in early trade, following Wall Street’s tech-fuelled rally ahead of the major earnings reports. The Nikkei 225 climbed 1.17 percent and the Topix was up 0.88 percent.
Oil prices settled mixed on Monday, Brent crude settled 48 cents higher at $88.11 a barrel.
INDIAN MARKETS
Sensex rallied 320 points to 60,942 at the close on Monday, while the Nifty50 climbed 91 points to 18,118 and formed a long-legged Doji pattern on the daily charts, indicating indecisiveness among buyers and sellers. Banknifty climbed 314 points to 42821 formed a bearish candle on daily chart.
Foreign institutional investors (FII) have net-sold shares worth Rs 219.87 crore, whereas domestic institutional investors (DII) have net-bought shares worth Rs 434.96 crore.
TODAY’S VIEW
The market is expected to open in the green 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, we have key support level for the Nifty at 18,077, followed by 18,054, and 18,016. If the index moves up, the key resistance levels to watch out for are 18,153, followed by 18,176 and 18,214.