Stock Market Today by Shailesh Saraf - NIFTY to take cues from International Markets based on PMI and Non Farm Pay Roll Data to be Released Today

Indian markets displayed exemplary strength at the clearing with Nifty closing at 7738. The underlined bullishness in Bank Nifty suggests that a Rate Cut is on the cards. The PMI data along with Non Farm Payroll will pave the way Global markets will trade today. The first day of the clearing tends to be a trending day and movements in first 15 minutes will decide the probable direction of the market. March clearing has seen a movement of 950 points. SGX Nifty was showing 40 points gap down in the morning even as Euro currency has a given a breakout yesterday above its 6 month high of 1.1376 which might trigger selling in the European markets. As a consequence selling might spillover into the Indian markets as well.

Submitted April 01, 2016 at 12:53AM by ShaileshSaraf http://ift.tt/1VdPFxe