9 September 2016

Expect Nifty to Open Gap Down at 8953

Dynamic Levels' Market Outlook:  

Nifty to open a tad lower, ECB's Mario Draghi disappoints markets  

Indian Market Outlook: 

India's benchmark Nifty is expected to open gap down despite strong closing yesterday at 8975. ECB  President Mario Draghi has failed to match the expectations of the market, however the overall trend of the market is a buy, but marginal correction on the downside can set in. Nifty's support lies is at 8850 thus markets can retest to those levels. Yes Bank had to defer its QIP yesterday as the stock was down by over 5 percent and went below the QIP price. Nifty was supported yesterday by PSU banks and Auto shares, while IT and private sectors banks were a drag.
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Nifty Small Cap Index traded at all time high with good overall participation. FIIs have been buyers yesterday and over the past few months, highlighting India's strong fundamental story.  

Nifty Futures is expected to open at 8953 as per SGX Nifty at 8:50 am IST, which is below its previous close of 8976.

7 comments:

  1. Yes Bank tumbled almost 5 percent to Rs 1,264.30 on BSE after the company said it has deferred its proposed qualified institutional placement of shares.
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  3. Indian shares are likely to witness slightly higher opening as the global cues look supportive with SGX Nifty trading 21.50 points lower. capitalstars

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