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π¨ Daily News Analysis π¨
1.Nifty forms bearish candle, 17,900 vital for upside-
Nifty remained range-bound throughout the day and finally closed a tad lower with the greatest losers being IT and PSU banking. FMCG was the lone exception with a green close.
2.With a large bullish candle pattern, Symphony reaches a nine-month high
Symphony rose by almost 5% following the upward-biased breakthrough of the previous eight-day consolidation levels. The impending summer season is expected to boost demand for the company's products.
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3οΈβ£ things that will decide the market today π
1) SGX NIFTY trading in Green
With SGX NIFTY trading higher by only 5 points at 8:20 AM, Indian markets are expected to open flat today with traders and investors shifting focus to specific stocks.
2) US trades lower while Asian markets trade flat
Last night, Nasdaq traded lower by 68 points while major Asian markets like Hang Seng and Nikkei traded flat with little losses on Tuesday morning.
3) FIIs back to being net sellers.
While FPIs turned net buyers for the last week, FIIs sold stock worth Rs. 159 Cr yesterday while DIIs bought stocks worth 86 Cr.
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