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 recent pullback from the lows will have its acid test today where the chances of the indices sustaining at the higher levels is very less. The resistance for the index is around 25500-25550 for the day while 25150 will be the psychological support area.
Banking Index have tried to manage the recent lows of 59000 odd levels where good put writing is seen in the last two trading sessions. Short term traders should keep 58800 (spot) as stop loss for all the long contracts and avoid may major long positions till it is not crossing 59500 on the higher side.
On the geopolitical front, the ongoing tariff issues between US-EU followed by Iran issues will continuously weigh on the Indian equities.
Results for the day: