Market Watch : Will new lows spook traders, or prompt risk on trades? - Geojit Financial Services Ltd
ASIA
Asian stocks declined following Wall Street's worst session of the year, driven by disappointing US economic data. Regional shares opened lower, retreating from Friday's high with Australian and South Korean markets experiencing dip, while Japanese markets are closed for a holiday on Monday. Gift Nifty suggests a negative start for Indian markets.
US & EUROPE
US Stocks tumbled on Friday as fresh data raised investor worries about a slowing economy and persistent inflation, prompting a shift towards safer assets. Meanwhile, European stock markets ended higher on Friday, wrapping up a busy week of earnings reports.
COMMODITIES
Crude prices dropped to a two-month low, pressured by increasing oil supplies and demand concerns. This marked the fifth consecutive weekly decline, the first such streak in a year. Meanwhile, gold prices held steady on Friday, poised for their eighth straight weekly gain, bolstered by safe-haven inflows amid worries over U.S. President Donald Trump's tariff threats.
Will new lows spook traders, or prompt risk on trades?
* Events today: EA inflation rate final.
* Exchange debut: Quality Power Electrical Equipments (NSE/BSE), Tejas Cargo, Royal Rrc (SME)
* Ex-date: ASM Technologies, Prithvi Exchange India (Dividend)
* Zomato and Jio Financial Services will replace Britannia Industries and Bharat Petroleum
* Jagsonpal Pharma has signed a Business Transfer Agreement to acquire the India business of Resilient Cosme-Ceuticals.
* RVNL has emerged as the lowest bidder for a project worth Rs 156.35 crore from South Western Railway.
* RailTel has received a work order from East Central Railway for works amounting to Rs 288.15 crore.
* KKR acquires controlling stake in Healthcare Global Enterprises for $400 million.
Nifty Outlook
While there was no dramatic collapse last week, four consecutive days of decline did succeed in pushing Nifty to the lowest point since the ongoing downtrend began on 27th September. We are set to see 22580-22300 now. Reversal chances rest on the ability to avoid downsides beyond these objectives, or an outright swing back above 22790. We would however look for a break above 22950 as a confirmation of strength.
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