Morning Market Views:
Indian markets may trade on a nervous note in the today’s trade all thanks to the ongoing selling in the markets from the FIIs and global uncertainties. The trend of the index is on the bearish side with immediate support placed around 24900 which is the recent swing lows. The resistance for the index is around 25250-25300 on the higher side where good call writing is seen in the today’s Nifty monthly expiry series.
Bank Nifty has again drifted lower in the last trade where selling in the index heavyweights have been under the selling pressure. The overall trend of the index is neutral with key support for the index placed around 58000-58100 where 100-DMA is placed. On the flip side, 59000 is the psychological resistance for the day.
On the geopolitical front, INDIA-EU trade deal will be announced today which is the key news flow to be followed by the market while the US-IRAN issue will keep the markets under check on the higher side.
Results for the day: