SGX NF: 8150 (CMP)
NSE NF: 8120 (LTP)
As par early morning indication NSE NF may open around 8150 amid positive Asian market. Overnight US market was down around 1% following dismal Wall Mart result. But Fed beige book commentary later indicated that US economy is growing in a "moderate" way and policy makers in FOMC may not be in a great hurry for Dec'15 lift off. That may be supporting global market right now. Also, tepid data from China has increased the possibility of more monetary stimulus & 0.50% rate cut in the near future.
Back home, good set of IIP data may be indicating that we are near visible recovery path, but lots has to be done.
Technically, NF has now strong support of 8080-8045 zone and sustain above 8150-8175 area, we may see again 8205-8250 territory.
Only consecutive closing above 8250, NF may scale 8405 area, but for that we need "above estimate" Q2FY16 result right now from the leaders.
With all eyes are now on the ongoing result season, even "in line with street estimate" results of blue chips are causing "sell".
NSE NF: 8120 (LTP)
As par early morning indication NSE NF may open around 8150 amid positive Asian market. Overnight US market was down around 1% following dismal Wall Mart result. But Fed beige book commentary later indicated that US economy is growing in a "moderate" way and policy makers in FOMC may not be in a great hurry for Dec'15 lift off. That may be supporting global market right now. Also, tepid data from China has increased the possibility of more monetary stimulus & 0.50% rate cut in the near future.
Back home, good set of IIP data may be indicating that we are near visible recovery path, but lots has to be done.
Technically, NF has now strong support of 8080-8045 zone and sustain above 8150-8175 area, we may see again 8205-8250 territory.
Only consecutive closing above 8250, NF may scale 8405 area, but for that we need "above estimate" Q2FY16 result right now from the leaders.
With all eyes are now on the ongoing result season, even "in line with street estimate" results of blue chips are causing "sell".
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