Indian Stock Market Tips 21st August 2018 by Ripples Advisory-
Nifty Hit Fresh Record Highs, Tracking Strong Cues From Global Markets As U.S-China Trade Talks Might Help Resolve An Escalating Trade War.
Nifty hit fresh record highs, tracking strong cues from global markets as U.S-China trade talks might help resolve an escalating trade war. The rupee recovered along with the rally in equities after Fitch Ratings said the rupee depreciation is likely to be limited on India's sovereign ratings.
The Nifty index rose 81 points or 0.71% to settle at 11552. Positive global cues apparently helped brighten sentiment as investors cheering Washington and Beijing's decision to hold trade talks this week and remained hopeful on U.S-China trade talks.
Reports suggested the talks in Washington would take place on Aug. 21 and 22, just before $16 billion in new US tariffs on Chinese goods take effect.
Nifty is opening gap up by 11 points from previous day close of 11578. Currently, Nifty trading at 11589 as per SGX Nifty.
The US 10 Year T-Note is trading at 120.59. The Bond has broken its important low of 120.03 on 28th Feb 2018. The next support level is at 117.69 which is the low of Jan 2011. The US Dollar Index is trading at 95.44.
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