- Nifty Holds 8450, Smart Recovery In Global Markets
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Nifty Holds 8450, Smart Recovery In Global Markets
Indian benchmark index witnessed a roller coaster ride yesterday, as Nifty opened gap down on twin news of Trump victory and Indian government's decision to ban Rs.500 and Rs.1000 notes. Sharp buying was witnessed after a gap down opening. Market made a low of 8076 before recovering sharply. Nifty made fresh intra day highs boosted by the broader markets and banking stocks, discounting all negativities of a Trump victory and the Indian currency apprehensions. FII data which came in after markets hours saw a selling of Rs.2100 cr even though they were buyers in F&O segment. The markets are showing strength at lower levels but will have to sustain this week above 8550 for the next target of 8800 to be achieved.Nifty Futures is expected to open at 8504 as per SGX Nifty at 8:30 am IST, which is 26 points above its previous close of 8478.
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