- China GDP data came in line with expectation.
- US markets closed at all time high. ✅
- Asian markets are also mixed.
- SGX Nifty is slightly lower.
SGX NIfty indicates almost flat opening. We have just one positive cue from global markets. However positive global cues doesn't seem to be having much impact on our markets. Nifty is more bullish than bank-nifty. Hence look out for strong opening drives in nifty.
Intraday Trade Setups
- Both Nifty and Bank-Nifty opened almost flat.
- The first half of the market was quite range-bound.
- At 11:40 am, both the markets broke below the 5-min trendline.
- Nifty pharma was the biggest gainer.
- Nifty psu bank was the lagger.
- Wipro was the top gainer in Nifty 50 with 9.00% gain.
- JSWSteel was the top loser in Nifty 50 ending at -1.85%.
- Nifty 50 advances: 32
- Nifty 50 declines: 18
Trade Plan for Next Session:
- Today both the markets were extremely sideways with volatility coming in the second half.
- Today, FIIs were net buyers for 437 crores while DIIs were net buyers for 657 crores.
- If market opens flat or gap-up, have a long bias.
- If market opens gap-down, have a sideways to short bias.