CAPITALSTARS PRESENT DAILY DERIVATIVE MARKET UPDATE : 31 JAN 2020

                            Nifty Outlook

                             31 JAN 2020

NIFTY FUTURES DAILY TECHNICAL OUTLOOK

FOR DATE: 31/1/2020

TECHNICAL CHART

PIVOT POINTS

TECHNICAL VIEW:

Indian equities reversed all the gains made yesterday and traded lower as concerns over the spread of Coronavirus hit investor sentiment on Thursday. D-Street was a sea of red with blue-chip stocks like Reliance Industries, SBI, Infosys, HDFC Bank, and ITC sliding up to 2 per cent. The benchmark S&P BSE Sensex settled off day's low, but was still down 284.84 points, or 0.69 per cent, at 40,913.82 level. Reliance Industries was the top drag on the index, down 2.4 per cent, after global brokerage firm Macquarie downgraded the stock to 'underperform'. On the other hand, Bajaj Auto was up 1.4 per cent on the index after reporting an 8 per cent jump in net profit during Q3FY20.

Nifty futures have resistance 12200 after crossing this level it can reach up to the level 12430. In the downside nifty futures has support near 12000 after breaking this support it can slip till level of 11850.

                           Nifty Outlook 

                            31 JAN 2020

BANK NIFTY CHART:

DAILY PIVOTS LEVELS:

TECHNICAL VIEW:
In next trading session bank nifty futures have resistance 31100 after crossing this level it can reach up to the level of 31500.In the downside bank nifty futures has support near 30300 after breaking this support it can slip till level of 30000.

Global Indices:

US STOCKS - U.S. Futures NASDAQ 100 are down 0.66% while Dow futures down 0.70 %

and S&P 500 Futures up 0.69%.

European stock markets trading in a negative zone with DAX down 0.77 % and FTSE down

0.85 % 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 up 0.02% to 97.83.

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