Indian Stock Market Tips- Today by Ripples Advisory – 6th September 2018
Nifty Ended Lower As FII And PRO Continued Making Sell Position In Index Option
Nifty ended lower as FII and PRO continued making a sell position in Index option. Yesterday FII and PRO in combine sold 35348 contracts in Index option and in the current expiry they have sold 221457 contracts which suggest further weakness in the market. We suggest being cautious in the market. Nifty may face hurdle at 11543 which is its previous day high, on down side Nifty may test 10340.
The Nifty 50 Index fell 43 points or 0.38% to close at 11477 after making a low of 11394.
The rupee fell further to hit a historic low of 71.94 versus the dollar on fears of a Chinese slowdown and economic turbulence in emerging market economies.
Globally, other Asian markets fell broadly as investors continued to worry about trade tensions and the turmoil in emerging markets.
Nifty is opening gap up by 15 points from previous day close of 11518. Currently, Nifty trading at 11533 as per SGX Nifty.
The US 10 Year T-Note is trading at 119.95. 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 95.01.
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