NIFTY Spot View: 21/05/2024
CMP: 22502
Moving AVG (EMA) 20 Hour & 40 Hour: 22361 & 22292
Moving AVG (EMA) 20 Day & 40 Day: 22336 & 22291
Support & Downside Range: 22440—22420 Zone, 22385—22325
Resistance & Upside Range: 22560—22681--22725
Short Term Trend Reversal Level: -- 22054
Trading View Summary:
• In today's intraday trading session key support to watch is 22440—22420.
• After opening if 22440—22420 manage to hold than we may immediate moves upside towards 22560 to 22681 spot levels minimum & maximum 22725 spot levels.
• Whereas after opening if 22440—22420 fail to hold than we may see small pullback move towards 22385 to 22325 spot levels.
Global Market Update - Wall Street ticks higher as S&P 500 and Nasdaq composite head for more records on Rates Optimism
◽️U.S. stock surged to record high because of revived hopes that the Federal Reserve will be able to cut interest rates this year as inflation hopefully cools. More reports showing big U.S. companies are earning fatter profits than expected also boosted stock prices. Both Nasdaq Composite and S&P 500 Index soared 0.2% each.
◽️European stocks hovered near their record highs amid extended optimism about earnings growth and potential interest-rate cuts. UK, Germany and France Index gained 0.3% each.
◽️Crude oil futures were little changed to $84/bbl Monday after Iran's president and foreign minister died in a helicopter crash.
◽️Gold surged to an all-time high, boosted by increasing optimism the Federal Reserve will start easing monetary policy this year along with rising geopolitical tensions in the Middle East. Gold gained 1% to $2024/ounce