Why Nifty and BSE Sensex Might Open Higher Today?

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Why Nifty and BSE Sensex Might Open Higher Today?
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Domestic indicators point to a positive opening for the markets today but volatility cannot be ruled out until the benchmark indices consolidate, either upwards of 15,100 or below 14,500. 

 
It is likely that markets could trade sideways until the government releases GDP data for the October-December quarter on Friday. A report by DBS Research has predicted that GDP will turn positive 1.3% on the back of strong festive demand and opening up of the economy.
 
Nifty Futures are trading up 0.24% at the time of this report and that is almost a sure indicator that markets will open in the green. Keep an eye out for copper stocks as the price of the metal has moved over $9,000 a ton. Markets are predicting a move to $10,000 as the rally continues.
 
Bank Nifty has been taking a battering since the last week and is close to falling below the 35,000 mark. If this continues, the next support level to watch out for is 34,900.
 
Asian markets have opened weaker on fears of overvaluation in markets combined with rising interest rates. Nikkei 225 is down 0.79% after it reopened today after a holiday yesterday. The Shanghai Composite is down 1.15% while KOSPI 50 is up 0.51% at the time of this report.
 
In Europe, FTSE 100 and CAC 2000 Ltd (JS: CAC )closed up 0.21%, each while DAX dropped 0.61% yesterday.

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  • satyabrata nayak @satyabrata nayak
    Buy Britannia, HDFC , Indigo paint is good pattern for uptrend
    Like 0
  • satyabrata nayak @satyabrata nayak
    Buy Britannia, HDFC , Indigo paint is good pattern for uptrend
    Like 0
  • chetan sonawane @chetan sonawane
    Bank Nifty will going to 34900 after 11 Am
    Like 3
    • Jawed Khan @Jawed Khan
      @chetan sonawane Reason?? For every comment put a genuine reason..😊
      Like 0

      • Comment Guidelines

      We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

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  • chetan sonawane @chetan sonawane
    Bank Nifty will going to 34900 after 11 Am
    Like 0
  • Tarun Chhabra @Tarun Chhabra
    Good analysis
    Like 0
  • Tiwari Shubham @Tiwari Shubham
    Oo
    Like 0
  • Pankaj Kumar @Pankaj Kumar
    boom market.
    Like 0
  • SHANTI SWAROOP @SHANTI SWAROOP
    great article
    Like 0
  • deepak H.P. @deepak H.P.
    14350 coming very fast... 😜
    Like 0
  • Kailas Jadhav @Kailas Jadhav
    Thanks
    Like 0
  • Sudhakar Yejagar @Sudhakar Yejagar
    good information's
    Like 0

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