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Directionless markets may remain subdued | The GRS Solution

Directionless markets may remain subdued | The GRS Solution :-

The domestic equity benchmarks are likely to open on a subdued note on Wednesday amid lack of directional cues from Asian peers. The SGX Nifty, which was trading at 10,097, suggests that Nifty may open lower by 11 points. The GRS Solution 

After witnessing range breakout, Nifty has witnessed swift rally and it almost reached the 10,100 mark. Now, Nifty has resistance placed around the levels of 10,135-10,140 and if it manages to hold above these levels, it may scale higher up to the level of 10,200. On the flip-side, supports are seen around 10,040 and 10,000 levels.
Back home, Indian market settled in positive territory on Tuesday with the BSE Sensex concluding above important psychological 32,000 mark and Nifty rising 87 points to finish at 10,093. The broader market also surged higher and ended the session with gains of over 1%. Both the Mid-cap and Small-cap index outperformed the benchmark indices.
India’s retail inflation or Consumer Price Index (CPI) inflation for the month of August, 2017 came in almost 100 basis points higher at 3.36%.
The Index of Industrial Production for July 2017 came in at 1.2%, as against a contraction of 0.2% in the month of June.
On Wall Street, all three major US stock market indices posted all-time closing highs on Tuesday. Tech stocks were buzzing amid Apple’s highly anticipated product launches. Apple launched a series of new products, including the much-awaited iPhone 8, iPhone 8S, and the iPhone X, its biggest iPhone redesign. The Dow Jones Industrial Average rose 62 points to end at 22,119. The Nasdaq Composite Index climbed 22 points to finish at 6,454 and the S&P 500 gained 8 points at 2,496.
Asian stocks were trading mixed in early trade on Wednesday. The Japan’s Nikkei 225 has advanced 0.45%, while Hong Kong's Hang Seng has slipped 0.55% and China’s Shanghai Composite has fallen 0.12%.

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