Morning Market Insights:

Indian Markets may come under the bear grip again in the today’s trade after the massive sell off in the last session. The rising dollar index followed by couple of negative news flows from the IRAN-US deal is also dampening sentiments. There was some pressure in the global markets in the last night which may provide some hurdle for the index on the higher side. The sentiment on the street is expected to remain range bound now with support for Nifty is around 23700-23650 while 24150 will be the stiff resistance. Bank Nifty is expected to come under pressure after the recent move in the index with overall trend remains on the neutral side now. The positioning of the index seems to be cautious with sentiment on the street on the cautious side. The support for the index is around 56400 while 57800 remains resistance for the day. Focus will be on IT stocks, as globally IT shares are going down. $INFY $TCS