Market
Mantra: 25/01/2017 (08:30)
Watch 8495-8455 & 8545-8585 Zone In
Nifty Fut (Jan), Which May Open Around 8515 Today
As
par early SGX indication, Nifty Fut (Jan) may open around 8515 (+28 points)
following positive global cues. Overnight US market rallied quite smartly
supported by deluge of good Q4 earnings & upbeat economic data. US market
sentiment may be also supportive following some “swift” executive actions by
Trump without much collateral damage so far. Thus the market shifts some
attention from the ongoing Geo-Politics to economics for the time being.
Investors may be also concerned about yesterday’s Brexit related development as
a result of SC verdict to take approval of the Parliament for invocation of the
Article-50 without seeking consent from some other regions as this may delay
the overall exit process beyond schedule 2019.
Technically,
SPX-500, which is now trading around 2276, need to sustain above 2285-2305 zone
for further rally towards 2315/2350-2390 area; otherwise it will again come
down towards 2265/2250-2225/2210 area in the near term. Now, market need to
know about specifics of Trump’s much talked fiscal/infra spending plan.
As
par some reports, Trump is going to sign some executive orders for
anti-immigration policies against some specific countries, build the Mexican
wall, NAFTA agreement today, after giving approval for the much delayed
Keystone & Dakota oil pipelines in exchange of US made steel pipes to
transport the oil. Some reports also indicate that Trump & Co may identify
fifty infra projects across US for around $138 bln in 2017 for infra spending.
Apart
from global cues, Indian market may also concentrate on the Q3 earnings, which
are mixed so far. All eyes will be also on the forthcoming FY-18 budget for
which market expectations are quite high. Any disappointment may lead to
extreme volatility also.
Hints for actionable trading idea:
Technically, NF need to sustain over
8525-8545* zone for further rally towards 8585*-8635 zone for the day (under
bullish case scenario).
On the other side, sustaining below 8495*-8475
zone, NF may further fall towards 8445/8410*-8375 & 8325*-8275 area for the
day (under bear case scenario).
Similarly, BNF (LTP: 19065) need to
stay above 19200 area for further rally towards 19300*-19500 zone for the day
(under bullish case scenario).
On the other side, sustaining below
19150 zone, BNF may further fall towards 19000*-18900 & 18700-18600* area
for the day (under bear case scenario).
NF
BNF
SPX
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