16800 ABOVE 16600; 16100 IS THE IMMEDIATE SUPPORT
WORLD MARKETS
US indices surged
2%-3.6%, with the S & P 500 and Nasdaq Composite rising the most since June
2020 and November 2020 respectively, as commodity prices cooled.
WTI crude oil tumbled
more than 12%, or $15, to $108.7 per barrel, registering its worst day since
Nov. 26 and Brent crude fell 13% or $16.8 to $111.1, for its biggest one-day
drop since April 2020.
US 10-year treasury yield
rose 7 bps to 1.943%. Dollar index plunged 1.1% to 98. Spot gold fell 3.3% to
$1,983.96 per ounce.
Euorpean markets soared
3.2%-7.9%.
AT HOME
Sensex and Nifty soared
2.3% and 2.1% respectively, extending the winning streak to second straight
day. Sensex settled at 54647, up 1223 points while Nifty finished at 16345, up
331 points. Nifty mid-cap and small-cap indices climbed 2.2% and 2.4%
respectively. BSE Energy and Realty indices were the top gainers among the
sectoral indices, rising 3.6% and 3.2% respectively whereas Metal and Utilities
indices were the top losers, down 0.7% and 0.1% respectively.
FIIs net sold stocks and
stock futures worth Rs 4819 cr and 179 cr respectively but net bought index
futures worth Rs 678 cr. DIIs were net buyers to the tune of Rs 3276 cr.
Rupee appreciated 35
paise to end at 76.56/$.
OUTLOOK
Today morning, Asian
markets are trading with gains of 1.5%-3.5% and SGX Nifty is suggesting more
than 200 points higher start for our market.
In yesterday's report we
had said that immediate hurdle on the hourly chart had come down to 16400.
Nifty soared to touch a
high of 16418 before closing at 16345 and is set to open near 16550 today.
16600 followed by 16800
are the next upside levels to eye for Nifty; 16100 is the immediate support on
the hourly chart, with the stop-loss of which, trading longs can be held on to.
34400 is the immediate
hurdle for Banknifty, above which, 36000 would be the next upside level to eye;
32950 is the immediate support.
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