Market Mantra: 01/11/2016 (08:40)
As par SGX indication, NF may open around 8625, almost flat from the LTP (Muharat Trading Day) following mixed global cues.
Technically, NF has to sustain over 8650-8695* area for further rally towards 8725-8800*-8850 zone for the day.
On the other side, sustaining below 8610-8585* zone, NF may further fall towards 8545*-8500-8465 area as the day progress.
Similarly, BNF (LTP: 19521) need to stay above 19650-19700* zone for further rally towards 19900*-20000-20200 for the day.
On the other side, sustaining below 19550-19500* area, BNF may further fall towards 19400-19350* & 19150 zone as the day proceeds.
Apart from various Geo-Political events (US election risk, Clinton e-mail issues, Brexit etc), high probability of Dec hike by Fed, Indian market may also be under pressure for continuous firing at Pak LOC.
Domestic market will keenly watch progress of GST rate finalization in a meeting tomorrow, which may be further dragged next few weeks amid lack of meaningful consensus.
SGX-NF
NSE-BNF
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