The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with an 88 points loss.
The BSE Sensex declined 49.96 points to 52,104.17 on February 16 while the Nifty50 fell 1.20 points to 15,313.50.
According to pivot charts, the key support levels for the Nifty are placed at 15,226.53, followed by 15,139.57. If the index moves up, the key resistance levels to watch out for are 15,416.13 and 15,518.77.
US Markets
The Dow Jones Industrial Average notched a record closing high on Tuesday as cyclical sectors gained on the prospect of more fiscal aid to lift the U.S. economy from a coronavirus-driven slump.
The Dow Jones Industrial Average rose 63.82 points, or 0.2%, to 31,522.22, the S&P 500 lost 2.25 points, or 0.06%, to 3,932.58 and the Nasdaq Composite dropped 47.98 points, or 0.34%, to 14,047.50.
Asian Markets
Asian markets pointed to a mixed open on Wednesday, as investors juggle the prospects for an economic comeback and additional stimulus with continued pandemic concerns.
Australia’s benchmark S&P/ASX 200 index was up 0.06% in early trading, while Japan’s Nikkei 225 futures were up 0.12%. Hong Kong’s Hang Seng index futures were down 0.37%.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with an 88 points loss. The Nifty futures were trading at 15,239 on the Singaporean Exchange around 07:30 hours IST.
source https://www.mcxfree.tips/tips/the-indian-stock-market-is-expected-to-open-in-the-red-as-trends-on/
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February 17, 2021 at 09:18AM
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