Sustainable level above 17,778, would be considered fresh breakout in Nifty. Intraday support for Nifty is seen at 17,688, while resistance for the same is seen at 17,855. 

U.S. stocks finished sharply higher on Wednesday, with all three benchmarks posting their best day of gains in about a month. The Bank of Canada lifted its overnight target rate by three-quarter percentage points to 3.25%, following a surprise increase of a full percentage point in July. The European Central Bank could lift rates as much as 75 basis points on Thursday. Nifty is looking for direction over the past few days and has outperformed the other countries by recovering from lows – whether intra day or otherwise. Nifty could face resistance at 17,777 while 17,468 could provide support in the near term. Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Wednesday.

Sustainable level below 17,450 would result in fresh break down in Nifty index. However, on the upside 17,778 is the positional resistance, above which uptrend would resume. Catch complete mid-market details with Vinay Rajani.

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Nasdaq Composite clinched its longest losing streak in six years falling for 7 consecutive sessions. The ICE U.S. Dollar Index was back above 110, right around its strongest level in two decades.

Nifty formed a high wave doji candle suggesting indecision after a rise.  Nifty could remain in the 17,402-17.777 band for the near term.

Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets on Tuesday.

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Nifty witnessed sustainable upside recovery after showing weakness in the early mid part of the session. Immediate resistance is placed at 17,780-17,800 levels. Catch complete mid-market details with Nagaraj Shetti.

US Markets were shut on Monday for the LABOUR DAY HOLIDAY, European stocks slumped, the euro fell below 99 cents for the first time in twenty years and natural gas skyrocketed after Russia said it was cutting off gas supplies through the Nord Stream 1 pipeline indefinitely.

China's announcement of a cut in the number of foreign-exchange deposits banks must set aside as reserves helped sentiments in Asia.

Nifty broke out nicely of the two-day range move. Nifty could stay in the 17,778-17,476 band for the near term.

Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today.

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Nifty has got strong resistance at 17,800 odd levels, above which it would resume medium term uptrend. Intraday supports for Nifty are seen at 17,630 and 17,553, intraday resistance is seen at 17,720.

Russia’s Gazprom wouldn’t reopen a natural gas pipeline to Europe on Saturday appeared to weigh on global stock-market sentiments. Nifty needs to break out of the 17,401-17,778 band for further cues on directions. However, it will keep finding it difficult to sustain gains. US markets are shut today due to the labour day holiday. Indian markets could open flat to mildly lower, in line with mixed Asian markets today and lower US markets on Friday.

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