Nifty - Technical Analysis:
-Nifty gaps up above 11700 but sellers take control as markets fall drastically ending down 2.65%
-Volatility index, India VIX, shot up over 26 per cent to nearly 30 levels.
Market - Driving Factors:
-Analysts are of the view that the reports of the Indo-China border tensions might have spooked investors, pushing them to take some money off the table as the market is at higher levels.
-The Nifty sectoral indices were all in the red, led by Nifty PSU Bank index, down 5 per cent.
-Rupee ends at 73.61 per US dollar against August 28 close of 73.39 per US dollar
Nifty - Outlook for Friday, 28th August:
Nifty is testing the lower trendline in the graph, We can expect a small pull back and another test of the trend line. Traders are required to be cautious while investors can book profits if markets move down from here.
-Nifty gaps up above 11700 but sellers take control as markets fall drastically ending down 2.65%
-Volatility index, India VIX, shot up over 26 per cent to nearly 30 levels.
Market - Driving Factors:
-Analysts are of the view that the reports of the Indo-China border tensions might have spooked investors, pushing them to take some money off the table as the market is at higher levels.
-The Nifty sectoral indices were all in the red, led by Nifty PSU Bank index, down 5 per cent.
-Rupee ends at 73.61 per US dollar against August 28 close of 73.39 per US dollar
Nifty - Outlook for Friday, 28th August:
Nifty is testing the lower trendline in the graph, We can expect a small pull back and another test of the trend line. Traders are required to be cautious while investors can book profits if markets move down from here.
