Foreign signals were good for Indian markets on the first day of the trading week. The SGX Nifty started off with a bit of strength. Dow futures were up 231 points, and Nasdaq futures were trading up by more than 1 percent. Asian markets were mixed, Japan’s Nikkei opened with a strength of about 150 points, Hong Kong’s Hang Seng was also up more than 120 points and China’s Shanghai Comp was also strong.
Foreign Markets Condition
On Friday, the Dow Jones closed 131 points higher in U.S. markets, the S & P500 traded flat, while the Nasdaq was down by half a percent. Last week was the biggest drop on the Nasdaq since March. The Nasdaq has broken more than 4 percent in the last week. While Dow Jones has a weakness of 1.7% and S & P500 2.5%. As far as European markets are concerned, London’s FTSE, Germany’s DAX and France’s CAC40 traded with lethargy.
Shares Rise and Fall at Nifty
HCL Tech, Tata Motors, SBI, Tech Mahindra, HDFC, HDFC Bank, Reliance, Tata Steel, Adani Ports, ZEEL, IndusInd Bank, Axis Bank and TCS shares may rise. While HUL, Asian Paints and Britannia shares may fall at Nifty today.
What are Today’s Strategies?
New rules for Sebi’s multicap funds could be considered neutral and positive for the market. There is no need to bother investors with this. Fund managers will do whatever is required to do the balancing, investors have to continue their investment as before. They have to take their long term view, do not do any shopping in a hurry. Today’s support range for Nifty is 11350-11425, the upper range will be 11550-11650, the support range is 22100-22300 for Nifty Bank. While the upper range will be 22750-22950.