The  Nifty Future is trading at 10,317.80 with a loss of -5.69% percent or -622.15 point. The Nikkei 225 Future is trading at 18,780.00 with a loss of -3.25% percent or –630.00  point.The Hang Seng Future is trading at 24,947.50  with a loss of -4.08% percent or –1,062.50 point.

TODAY’S FACTORS AND EVENTS

Nifty50 RSI has declined to the lower band near to 30 levels on daily and weekly charts and closed at 7% away from the 20-day simple moving average. Historically, we have always witnessed a sharp up move from these oversold levels. After a sharp volatility we believe the markets would consolidate at current levels in broader range of 10,800-11,400 levels witnessing a time-wise correction over the next four weeks. India VIX has closed at 25 levels and has multiple resistance near to 30 levels on yearly time frames.

PREVIOUS DAY ACTIVITY

 For the day the  nifty closed at 10,393.50  with a loss of –5.42% percent or –595.95  point.Nikkei 225 is trading at 19,698.76  with  a loss of –5.07% percent or –1,050.99  point. Hong Kong’s Hang Seng is trading at 25,040.46 with a loss of –4.23% percent or –1,106.21 point. 

WORLD MARKETS

For the day the Dow is trading at 26,121.28  with a loss of –3.58% percent or –969.58  point. The S&P 500 is trading at 3,023.94 with a loss of –3.39%percent or –106.18 point. The Nasdaq Composite is trading at 8,738.60 with a loss of –3.10% percent or –279.49  point.

In other parts of world, Japan’s Nikkei 225 is trading at 20,749.75 with a loss of –2.72% percent or –579.37 point. Hong Kong’s Hang Seng is trading at 26,156.43 with a loss of –2.28% percent or –611.44 point. China’s Shanghai  Composite is trading at 3,034.51 with a loss of –1.21% percent or –37.17  point. India’s BSE Sensex is trading at 37,419.73 with a loss of –2.73% percent or –1,050.88  point at 12:15 PM.