NIFTY WRAP UP & FORECASTING

The BSE Sensex index ended 163 points, or 0.29 per cent, lower at 55,629 levels while the Nifty 50 index held the 16,550-mark and closed at 16,569, down 46 points or 0.28 per cent.

On the UPside: EISHERMOTO, ULTRACEMCO, BAJAJFIN, ADANIPORT

On the downside- KOTAKBANK, HINDALCO,ICICIBANK, SBILIFE

Tech View:-index closed in negative territory at 16569 with loss of nearly half per cent and formed a bearish candle after forming bullish candles for four consecutive sessions.The index has formed bearish candle pattern on the daily chart, the index still has good support zone at 16500 if broke then we may see more profit booking comes in & we may see index dragging towards 16400 zone and resistance zone is 16630-16700.

European & USA markets:
@ IST 5:00European markets were trading with a Negative note. Germany’s DAXtrading 0.10 %,France’s CAC40 index down by 0.36%and England’s FTSE100 index DOWN by 0.31 %.
Where; wall street @ IST 4:51 The DOW future contract trading Negative73points, or 0.21%,S&P 500 Future traded down @ 4points, or 0.08%, Where Nasdaq100 future trading Positive 14points, or0.10%.

Global News Analysis:

US- Insight into the Federal Reserve’s debate over when to end its pandemic-era emergency programs and the level of concern among officials over a spike in inflation should emerge on Wednesday with the release of a readout of the U.S. central bank’s policy meeting last month
LONDON/WASHINGTON -The Taliban took over Afghanistan with astonishing speed, but it appears unlikely that the militants will get quick access to most of the Afghan central bank’s roughly $10 billion in assets.
Germany:- The World Trade Organization said on Wednesday its global goods barometer hit a record high, confirming the strength of trade’s recovery after the deep shock caused in 2020 by the COVID-19 pandemic.