Markets may open gap-up on positive global cues -- | The GRS Solution
Indian equity markets may witness a gap-up opening on Wednesday, following positive sentiments prevailing in the Asian markets and a strong comeback rally in the US stocks in overnight trade. The SGX Nifty Future, which was trading at 9,838 with gains of 50 points, is indicating a gap-up start for the day.Nifty Future index has wiped out almost entire gains made in the previous three trading sessions. Now, going forward, Nifty 50 has major support placed around the levels of 9,740-9,750, and if Nifty sustains below these levels, fresh selling pressure could drag index up to the level of 9,685. On the way up, the level of 9,850-9,860 may act as a stiff resistance level.https://t.co/h6kjgj3H7h@seohemrajp @moneycontrolcom pic.twitter.com/hdcqBNgbjw
— The GRS Solution (@grs_solution) 30 August 2017
Back home, Tuesday’s session turned out to be a terrible day for the Indian markets, with benchmark indices shaving off over a percentage point and breaching their crucial marks. The BSE Sensex closed below 31,400 and Nifty settled below the 9,800-mark. Market sentiments took a hit amid geopolitical tensions in the aftermath of North Korea firing a missile over Japan.
The US stock benchmarks staged a smart recovery after an initial setback on Tuesday. The Dow Jones Industrial Average marked its one of the biggest single-day comebacks of the year. The Dow Jones Industrial Average ended 57 points higher at 21,865. The Nasdaq Composite Index surged 19 points to close at 6,302. The S&P 500 edged up 2 points to finish at 2,446.
Asian stock indices were trading on positive territory at the open on Wednesday. Hong Kong's Hang Seng has surged 172 points; Japan’s Nikkei 225 has advanced 99 points and China’s Shanghai Composite has gained 7 points.
