Today’s Possible Trend Perspective Nifty 50

What Developments happening around for traders
EURJPY nearing channel support
Markit Manufacturing PMI released from USA and Canada
U.S. ISM Manufacturing Purchasing Managers Index (PMI) Released 57.3 VS expected 58.6
Nifty Today Outlook Showing weakness in the European session

Nifty 50 open at 10838, let’s have a look on technical analysis of nifty 50, as we can see it 10038 sqli resistance break. Now we possess a resistance of 10900. if NIFT assistant about 10911 then we may hide near last resistance of 11200. Nifty was in corrections after February 2018 on the event of budget release.

recently Federal Reserve declared unemployment rates. through which that showing the economic growth around the US economy looking good. this case is major impact of global indices. base metals also covered so sweet dropped last . Industries might looking this is a bottom of base metals and be habitable treat themselves to it’s the best investment or reporting stocks which deals with base metals industry basically.

Let’s have a look at usdinr, 70 levels acting as a bigger resistance and turned down from those levels recently usdinr futures trading near 68.7700. As we can see in the USD INR futures chart the chart is currently attempting to break trend line. But as conseroverl

tive investor, we should see close below the trend line to support a trend as a technical trade.

The economic events are heading today so by which we could decide what to trade today.

we had the news from Japan that is adjusted current account the actual reading of stator is 1. 85 T vs 1. 89 T., Bank lending (YoY)(Jul) actual reading skills at 2. 2 % versus 2. 0%. this is economic events release so far from Japan. we also have a speech from Bank of Englands governor and ECB’s president Mario draghi.

Overall perspective of the market till now is looking good for intraday traders. making lungs after further retrace is preferential.

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