Stock Market Today by Ripples Advisory – 10th July 2018
Markets Began The Week On A Strong Note Supported By Positive Global Cues
The market began the week on a strong note supported by positive global cues; Europe and Asian markets gained as investors set aside concerns about escalating trade tensions to prepare for the latest earnings season after signs of continued economic strength.
Markets opened gap up and traded with a positive bias right through the day gaining further momentum in the final hour of trade. The Nifty Index rose 80 points or 0.74% to close at 10853. The Smallcap Index outperformed Niftily and rose by 122 points or 1.69% to settle at 7345.
FII and PRO yesterday have bought 57417 contracts and in the current expiry, they have bought 158659 contracts in Index option signalling strength in the markets.
Nifty is opening gap up by 40 points from previous day close of 10860. Currently, Nifty trading at 10900 as per SGX Nifty.
The US 10 Year T-Note is trading at 120.05. 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 93.85.
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