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Treasury yields dipped, retracing some of their jump in the U.S. stocks sensitive to the economic outlook fueled the S&P 500’s best climb since October. futures retreated, continuing a choppy week for investors. failed to win approval for a debt swap, highlighting property-sector woes. slid over the risk of delisting for flouting disclosure rules, while developer Kaisa Group Holdings Ltd. China and Hong Kong face headwinds: Chinese shares traded in the U.S. But we reiterate, our positional view remains bearish and hence, it’s advisable to book intraday profits if Nifty enters the above mentioned resistance zone.Īsian stocks were mixed Friday as traders evaluated risks from the omicron virus strain, while Treasury yields pared a climb spurred by Federal Reserve comments about a quicker reduction in stimulus.Įquities fluctuated in Japan, fell in South Korea and rose in Australia.
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For the coming session, if Nifty continues with the bounce back mode, one can look to identify potential candidates that are trading at key supports and are likely to provide good buying opportunity. On the flipside, 17300 – 17200 are to be seen as intraday supports. Now looking at the individual stocks, we may see Nifty heading towards 17500 – 17600 but we reiterate, markets are not completely out of the woods yet and hence, it’s advisable to stay light after nearing this zone. But honestly speaking, Nifty has clearly over surpassed our expectations after extending the relief move beyond 17350. The kind of price development we had in the previous session, the possibility of some recovery was on cards. In fact as the day progressed, the buying momentum kept accelerating to conclude the weekly expiry precisely at 17400 by adding nearly 1.40% to the previous close. Our markets started the day on a positive note courtesy to some relief in the global peers. But as we came closer to our opening point, the global picture changed. As a result of this, today early morning the SGX Nifty was first indicating a massive gap down. Last night (Wednesday), US markets had a massive volatility towards the end as they took a nosedive from the day high. , 08:05:02 AM IST Thursday Nifty view: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One Ltd) But we reiterate, our positional view remains bearish and hence, it’s advisable to book intraday profits if Nifty enters the above mentioned resistance zone.
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On the flipside, 17300 – 17200 are to be seen as intraday supports.įor today’s session, if Nifty continues with the bounce back mode, one can look to identify potential candidates that are trading at key supports and are likely to provide good buying opportunity. As a result of this, yesterday early morning the SGX Nifty was first indicating a massive gap down. US markets had a massive volatility during the previous night and towards the end they took a nosedive from the day high.
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, 01:09:15 PM IST Nifty technicals: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One Ltd)