Indian Stock Market Tips Today by Ripples Advisory – 4th September 2018
Be Cautious In The Market As Index Option Data Suggests Profit Booking
Be cautious in the market as Index option data suggests profit booking in the Derivatives segment.FII and PRO yesterday sold 69459 contracts in Index option yesterday and have sold 88691 contracts in the current expiry.
Indian shares fell on Monday on profit booking at higher levels as sustained weakness in rupee stoked expectations that the Reserve Bank of India (RBI) may tighten its monetary policy further, as early as next month.
The rupee hit a record low of 71.06 against the U.S. dollar today amid rising trade tensions as the U.S. prepares to impose further $200 billion of tariffs on Chinese imports as early as this week. The Nifty Index fell 98 points or 0.84% to settle at 11582.
Nifty is opening gap down by 15 points from previous day close of 11642. Currently, Nifty trading at 11627 as per SGX Nifty.
The US 10 Year T-Note is trading at 120.20. 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 95.19.
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