Indian Stock Market Tips | Today's Morning Bell by Ripples Advisory.
Good Morning Traders!
FII And PRO Massively Sold 138685 Contracts In Index Option, Rupee Depreciated To A Fresh Low
FII and PRO massively sold 138685 contracts in Index option, the rupee depreciated to a fresh low. Indian markets started the week on a bearish note, with benchmark Index Nifty falling more than 150 points or 1.30% to settle at 11438 as on trade worries, rising oil prices and on expectations of a tightening market hurt investors' appetite for risk.
The rupee hit another historic low of 72.67 against the dollar after strong U.S. jobs report reinforced the view of further interest rate increases by the Federal Reserve this September and December.
FII & PRO in combine has sold more than 3 times of its average in Index option which suggests that market may further go down.
European markets struggled to make gains while most Asian shares ended lower on Monday, as trade tensions between the US and China remain in focus.
Nifty is opening gap down by 8 points from previous day close of 11493. Currently, Nifty trading at 11485 as per SGX Nifty.
The US 10 Year T-Note is trading at 119.66. 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 95.14.
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Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.
Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.
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