MARKET VIEW
GLOBAL MARKETS
US markets were closed for New year yesterday.
Markets in the Asia-Pacific traded lower. Nikkei and Kospi trading lower with a change of 0.3% and 0.4% down. Hang sang trading with a huge gains of 1.1% near the levels of 20000.
In Australia, S&P/ASX 200 fell 1.64 percent on its first trading session of 2023. Markets in Japan and New Zealand are closed for public holidays.
INDIAN MARKETS
Sensex rallied 327 points to 61,168, while the Nifty50 jumped 92 points to 18,197 and formed a bullish candle on the daily chart. Banknifty jumped 216 points closed at 43203.
Foreign institutional investors (FII) net-sold shares worth Rs 212.57 crore, while domestic institutional investors (DII) net-bought shares worth Rs 743.35 crore.
TODAY’S VIEW
The market is expected to open in the flat to negative as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 16 points.
As per the pivot charts, the Nifty may find the key support level at 18,117, followed by 18,087, and 18,038. If the index moves up, the key resistance levels to watch out for would be 18,215, followed by 18,246 and 18,295.