Here's is quick look at SGX Nifty Updates:
SGX Nifty is trading @ 17804.5,
High : 17817.5
Low : 17768.5
Price Change : +17.5
Price Change (%) : 0.1%
Yesterday the BSE Sensex climbed more than 300 points to 60,158, and the Nifty50 rose nearly 100 points to 17,722, while the Nifty Midcap 100 and Smallcap 100 indices gained half a percent and four-tenth of a percent respectively on positive breadth.
The markets are trying to create a range at a higher level. This is a positive sign for the buyers. Today will be the 8th day of rising Index and it's time to book profits in longs and wait patiently for a decent dip to go long. It's time to trade carefully with lighter positions.
IMF has cut India's growth target.
The International Monetary Fund has pared its economic growth forecast for India by 0.2 percentage point to 5.9 per cent for 2023-24. This is the lowest growth prediction by a multilateral lender. The World Bank and Asian Development Bank forecast GDP growth at 6.3 and 6.4 per cent. In its World Economic Outlook, the IMF projected India's retail inflation to ease to 4.9 per cent from 6.7 per cent in 2022-23, and current account deficit to decline to 2.2 per cent of GDP from an estimated 2.6 per cent a year ago.
Nifty. Resistance is still the same as yesterday. 17750/17770 is the resistance level and support comes in a 17600 levels.
BankNifty. It's going towards median number of 41800. Just like 18000 is to Nifty, 41800 is to Bank Nifty. It remains to be seen how banknifty behaves at higher levels.
Make money using our Bank Nifty Share Price and bank nifty option tips on a daily basis.
Nifty as long as we trades above 17683 spot bias remains bullish towards 17856 spot which should hit by tomorrow and if we breach 17683 spot then options writers goes heavy for tomorrow trading session and may drag nifty little lower to cool off the RSI so understand the importance of 17683 spot here above 17856 and below it 17600—17550
Trading Gyan
Trading/Investing psychology can never be improved with paper trades. One can not learn the real game of psychology until real money isn't involved.
Invest a small amount that you can afford to lose to learn as a fee to the market to understand psychology. However do not come to the market that I am going to lose this money but come to the market with a positive frame of mind.
