Stock Market Tips- Sector wise Small Cap Gainers- Mid cap Gainers and Losers
Huge Divergence Between Indian And Global Markets, Nifty Might Fall Any Time
Stock Market Today by Ripples Advisory – 21st December 2018
US market has been continuously falling from last seven days; the Index has fallen by 9% from its high of 2685 to 2441. Indian market benchmark Nifty has been rising from last seven days and rose by 3.6% from 10560 to 10940. There has been a huge divergence between Indian market and global markets, Nikkei Japanese Index has fallen almost 11%, Hang Seng (Hong Kong Index) has also fallen by 3% in last seven days. All major global indices are trading below their respective monthly and weekly lows. Indian Indices Nifty Small Cap Index, Nifty and Bank Nifty are trading above their monthly Highs. It has been researched that between 2007 and 2008 the same divergence took place between Indian and Global markets by 25% on Oct 2007 and this got normalized on 22 Jan 2008.
Nifty is in positive by 6% in YTD, whereas S&P is down by 13% YTD, therefore, there is a correlation gap of 19% between Nifty and S&P which is a danger signal for our markets. However, if S&P rallies to 2700, we can expect relief in our markets.
Small Cap Index has come to its resistance of previous month high of 6341. Nifty has also come to its resistance level of 10940 which is a two week high of the Index.
The US 10 Year T-Note is trading at 120.95. The Bond has broken its important low of 120.03 on 2nd Oct 2018. The US Dollar Index is trading at 95.900.
Sector-wise Small Cap Gainers-
Mid-cap Gainers and Losers-
The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making the investment decision.
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