Market may open gap-down on negative overseas cues
Indian equity markets are likely to open gap-down on Friday, tracking negative sentiments prevailing in the global markets. The SGX Nifty, which was trading with losses of 45 points at 9,484, indicated that domestic bourses may open with a gap-down.
Now, going forward, Nifty50 has immediate support placed around 9,450, and if it holds below 9,450 it may trigger fresh selling towards the levels of 9,420 and then 9,400, while, on the upside, resistances are seen in the zone of 9,550-9,560.
Back home, Indian markets started off on a promising note on the final day of June F&O series, but it the enthusiasm fizzled out in the second half of the trading session as selling was seen in banking and healthcare stocks. At the end of the day, Nifty50 managed to close tad above the 9500-mark.
The US stocks plunged on Thursday, with the S&P 500 and Dow Industrial registering their worst one-day declines since May as the technology sector continued its sell-off. The Dow Jones Industrial Average fell 168 points to 21,287. The S&P 500 index slipped 21 point to 2,420. The Nasdaq Composite Index tumbled 90 points to 6,144.
Asian stocks fell in early trade on Friday, following a sell-off in the US market. Japan’s Nikkei 225 has slipped 239 points; Hong Kong’s Hang Seng has lost 286 points, while China’s Shanghai Composite has shed 8 points.
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Via:: Stock – India Infoline