Thursday 27 December 2018

Nifty plunged early Wednesday on subdued global cues amid Trump’s Fed salvo, but recovered on hopes of NBFC/HFC liquidity resolution

The Indian market (Nifty Fut/India-50) closed around 10760, surged by almost +0.73% (+78) in a holiday-thinned market on hopes of NBFC/HFC liquidity issue resolution. The market recovery was led by HDFC twins amid a report that a delegation of NBFCs and HFCs are meeting with the PM Modi under ASSOCHAM banner. Earlier, the Indian market plunged by almost -1.35% (-146.00) to a low of 10536.40 on subdued global cues amid Trump’s Fed salvo and as and as Mnuchin calls bankers and prepares “plunge protection team”.



Technically, Nifty Fut-I (NF) has to sustain over 10800 for a further rally to 10850*/10890-10930/10975 and 11025/11050*-11085/11130 in the near term (under bear case scenario).

On the flip side, sustaining below 10775, NF may further fall to 10715/10665-10580/10540* and 10500/10350*-10250/10200 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27100 for a further rally to 27150/27425-27525*/27625 and 27785/27875-27945/28175 in the near term (under bullish case scenario).

On the flip side, sustaining below 27050-27000, BNF may again fall to 26890/26700-265550/26450 and 26300/26150-26000/25700 in the near term (under bear case scenario).

Technically, USDINR-I has to sustain over 69.70 for a further rally to 70.50/70.95*-71.25/71.75 and 72.60*/73.00-73.70/74.25 in the near term (under bullish case scenario).

On the flip side, sustaining below 69.50, USDINR-I may fall to 69.15*/68.50-68.25/68.00 and 67.80/67.00-66.70/66.40 in the near term (under bear case scenario).

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NIFTY FUT  (SGX-NF)


BANK NIFTY FUT


USDINR FUT


SPX-500 FUT

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