*China intervention in FX market (USDCNY) may be also affecting the
Asian Market sentiment today*
Market Mantra: 04/07/2017 (08:30)
SGX-NF: 9615 (-13 points)
For the Day:
*Key support for NF: 9620-9560/9535*
*Key resistance for NF: 9670-9725*
*Key support for BNF: 23300-23000*
*Key resistance for BNF: 23450-23650*
*Time & Price action suggests that, NF has to sustain over 9670 area for
further rally towards 9725-9775 & 9835-9875 in the short term (under
bullish case scenario).*
*On the flip side, sustaining below 9650-9620 area, NF may fall towards
9560/9535 & 9495-9440 & area in the short term (under bear case scenario).*
*Similarly, BNF has to sustain over 23450 area for further rally towards
23550-23650 & 23800-23900 area in the near term (under bullish case
scenario).*
*On the flip side, sustaining below 23400 area, BNF may fall towards
23300-23100 & 23000-22800 area in the near term (under bear case scenario).*
As par early SGX indication, Nifty Fut (July) may open around 9615, down
by 13 points tracking subdued global/Asian cues after NK test fired
another ballistic missile early in the morning today and sudden plunge
of the US tech shares including Amazon (?); SPX-500 FUT is now trading
around 0.40% down.
Overnight, US market (DJ-30) closed in positive (+0.61%) with another
record high supported by Banks/Financials & oil related energy shares.
Financials were in demand on Fed’s nod for higher dividend pay outs &
buy backs in addition to optimism about higher interest rates due to
high probable QT (higher NIM). Oil was being supported by sudden fall in
US oil rigs count last week and talk of tensions in the GCC/Qatar issues.
Back to home, Indian market may focus on RBI’s action of raising bond
limit for the FPIS yesterday, which may be in response to China’s bond
market reform (link with HKG exchange to facilitate more FPIS
investments). Also, the domestic market may continue try to gauge the
impact of GST on earnings & economy in the near term.
<https://2.bp.blogspot.com/-F32QuCGbdhY/WVsVqWVtD-I/AAAAAAAAMPw/p4-sC2Ve4bk-FgTToaaLWtchnPZhhDqEACLcBGAs/s1600/SGX-NF-04-07-2017.png>
SGX-NF
--
Thanks & Regards,
Asis Ghosh
--
Kindly email stock reports at
STOCKRESEARCHER@googlegroups.com
For sharing knowledge
-- NIFTYVIEWS.COM NOW A FREE OPEN SOURCE WEBSITE.
http://www.niftyviews.com/
Disclaimer :-
"The opinions expressed by the members on this board are based on
their individual experience and perceptions and to share information
with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of
www.Niftyviews.com just provide a platform for the authors to express their opinion
and take no guarantee for the genuineness of the same."ANY member of this forum
doesnt prepare or publish any research report; or ii. provide research report; or
iii. make 'buy/sell/hold' recommendation; or iv. give price target;
---
You received this message because you are subscribed to the Google Groups "Niftyviews.com" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to stockresearcher+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
