Market
Mantra: 30/01/2017 (08:30)
Watch 8580-8500 & 8650-8705 Zone In
Nifty Fut (Jan), Which May Open Around 8620 Today
As
par early SGX indication, Nifty Fut (Feb) may open around 8620 (-52 points)
following tepid global cues amid holiday thinned Asian market.
Global
market seems to be concerned about Trump’s immigration policy controversy,
which saw detention of hundreds “legitimate” US visitors/immigrants in various
US airports on the weekend and eventually, American judiciary has intervened to
stay some part of the Trump’s immigration rhetoric. Now, various global
corporates giants (Google etc) and also UK/Germany/Canada/EU authorities are condemning
the executive orders of Trump to ban visitors from seven Muslim dominated
countries; as par report, Pak may also soon come under this list.
Incidentally,
India is the biggest migrant countries for the US destinations and although,
Indians need not to concern about this sudden immigration step taken by Trump
as of now, as par reports, Indian techies and also other workers/spouses in US
are now in great tension over their future in US.
Japan/BOJ
authorities are also worried about Trump’s trade & immigration protection
policies, which may eventually weaken the USD/US bond yields and made the Yen
stronger.
Back
to home, market may keenly watch reaction from the FPIS for GAAR implementation
from April’17. Although, Govt is assuring time & time again that GAAR will
be applied only in suspicious cases of the sole purpose of tax evasion,
regulatory framework and various legal hurdles may make the FPIS little worried
in future also.
Market
may also look to the ICICI result today after L&T’s “good” Q3 show but
tepid guidance, apart from various budget related probabilities.
Technically, for any rally, L&T
need to sustain over 1495-1525 area; otherwise it will come down towards
1380-1330 zone (LTP: 1440)
Hints for actionable trading idea:
Looking at the chart, NF need to
sustain above 8600-8580* area; otherwise it may further fall towards 8500*-8425
& 8385*-8315 zone for the day (under bear case scenario).
On the other side, for any rally, NF
need to sustain above 8650-8685* zone for rally towards 8705/8725*-8765/8795
zone for the day (under bullish case scenario).
Similarly, BNF (LTP: 19804) need to
sustain above 19450 area; otherwise it may further fall towards 19250*-19000
zone for the day (under bear case scenario).
On the other side, sustaining above
19900 area, BNF may further rally towards 20000-20350 zone for the day (under
bullish case scenario).
SGX-NF
BNF
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