Stock cash: Upcoming Results- Nifty Outlook
S&P500 Is At Crucial Level Of 2530, Market To Take Direction After It Breaks Upside Or Downside
The U.S market Index stands at 2530 levels, strong support for the Index, which it broke and made a low of 2347. Thus 2350 has now become a strong resistance for S&P 500. If the Index doesn’t maintain above 2530 we might see further selling in the U.S markets.
The overall world markets are optimistic about the proposed meeting between U.S President Donald Trump and Chinese president Xi Jinping, which is scheduled for tomorrow. If anything goes wrong in the meeting then 2530 level of S&P 500 will play its role and markets may continue its downtrend again.
It has also been observed by Dynamic Research team that Indian Markets are behaving differently to that of U.S Markets since the last two months. We have seen instances where the US markets have fallen 60-70 points and Indian markets after opening gap down covered all their losses and closed in positive territory.
On the other side where the US markets have rallied 60-70 points, next day Indian markets after opening gap up, lost its gain and closed in the red. Thus we suggest our investors, to not create any sentiments based on the movement of U.S markets on the very second day, rather decide direction on a weekly movement of S&P.
The US 10 Year T-Note is trading at 121.97. The Bond has broken its important low of 120.03 on 2nd Oct 2018. The US Dollar Index is trading at 95.428.
NIFTY OUTLOOK & OPEN INTEREST IN INDEX OPTION-
FII+PRO in combined have sold 77804 contracts in Index Options in the Current Expiry.
Upcoming Results-
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DISCLAIMER- 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 an investment decision
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