Expect Nifty to open on positive note, gain 6 points: Dynamic Levels
Dynamic Levels’ Market Outlook:
Selling pressure seen on emerging market indices
All the emerging market indices have given huge corrections recently. In average, all the Indices are down by 2 percent last week and around 3 percent in last one month.
One of the benchmark index of emerging indices, Morgan Stanley Emerging Market Index has come down to 1100 from its recent high of 1160 on November 23.
In the last trading session, the Indian Benchmark Index Nifty was down by 0.73 percent on closing basis. Nifty opened at 10089, made a high of 10104 and closed at 10044 after making a low of 10033.
The cash market benchmark index Small Cap was also down by 0.49 percent. The Index closed at 8451 after making a low of 8442. The next level of Small Cap is 8247 which is its 1 month low.
Yesterday, RBI in its monetary policy has kept the repo rate unchanged at 6 percent.
Nifty Future is opening gap- up by 6 points against yesterday’s close of 10068 as indicated by SGX Nifty which is currently trading at 10078.
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