CAPITALSTARS PRESENT DAILY DERIVATIVE MARKET UPDATE : 16 JAN 2020

                                                          Nifty Outlook
                                                                    
                                                          16 JAN 2020
        
NIFTY FUTURES DAILY  TECHNICAL OUTLOOK
     
FOR DATE: 16/1/2020 


TECHNICAL CHART

Nifty Outlook 16 JAN 2020

DAILY PIVOTS LEVELS: 

TECHNICAL VIEW:

Market participants booked profit on Wednesday ahead of weekly expiry on Thursday. Indian equities tracked global peers that were trading in the red after a United States official said that tariff on China would continue till the US Presidential elections were over. Markets, however, staged a smart recovery in the fag end of the session and pared most of its losses. Led by cuts in the financial and banking counters, the benchmark S&P BSE Sensex closed 79.9 points, or 0.19 per cent, lower at 41,872.73 level. Heavyweights like IndusInd Bank (down 6 per cent), State Bank of India (1.1 per cent), and Infosys (0.9 per cent) were the top drags at the index level. On the upside, Hero MotoCorp, Titan, and Maruti Suzuki settled as top gainers. The Sensex hit an intra-day low of 41,648.11, down 304.52 points.

Nifty futures have resistance 12450 after crossing this level it can reach up to the level 12600. In the downside

nifty futures has support near 12200 after breaking this support it can slip till level of 11950.

                            Nifty Outlook 

                            16 JAN 2020

BANK NIFTY CHART:

DAILY PIVOTS LEVELS: 

TECHNICAL VIEW:

In next trading session bank nifty futures have resistance 32400 after crossing this level it can reach up to the level of 32700.In the downside bank nifty futures has support near 31750 after breaking this support it can slip till level of 31500.

Global Indices:

• US STOCKS - U.S. Futures NASDAQ 100 are down 0.24 % while Dow futures up 0.20 % andS&P 500 Futures up 1.21%.

• European stock markets trading in a flat to negative zone with DAX down 0.07 % and FTSE up0.07 % respectively, and all the major bourses in the region trading in negative territory.

• The U.S. dollar index, which measures the greenback against a basket of six major currencies, is down 0.10 % to 96.99.

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