A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.

While world central bankers around the world are raising rates. Why China is cutting rates… Nifty snaps 8 day winning streak. U.S. stocks ended lower Friday, with the S&P 500 and Nasdaq Composite each snapping four-week win streaks, as more than $2 trillion equity-linked options expired. Amazon.com, Apple and Microsoft all fell and were the biggest drags on the S&P 500 and Nasdaq.

Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.

The Nifty has moved lower today. Further downsides are likely once the immediate support of 17,727 is broken.

Nifty made a double top compared to the previous session but ended marginally higher. Large volumes and range moves mean that a lot of churning seems to be happening between sectors and stocks. With no reversal signs on the horizon, Nifty could rise towards 18,115 over the next few sessions. On the other hand, a breach of 17,833 could mean faster downsides. Indian markets could open flat to mildly lower, in line with mixed but rangebound Asian markets today and mildly positive US markets on Thursday.

The Nifty has moved lower today. Further downsides are likely once the immediate support of 17,852 is broken.

Indian markets are less than 4 percent off their lifetime highs. Nifty continues its relentless rise and is currently outperforming global markets. The current uptrend is mature, and one should be careful in loading up new positions - though there are no signs of reversal. On upmoves 18,114 could act as a resistance while 17,719 is a support. Indian markets could open flat to mildly lower, in line with largely negative Asian markets today and lower US markets on Wednesday.

The Nifty has moved higher today. Further upsides are likely once the immediate resistance of 17,941 is taken out.

A rally in retailer shares drove the US markets to a fifth day of gains on Tuesday. Nifty rose on Aug 16th, rising for six days in a row, equalling the longest winning streak in 2022. Sentiments have improved across the board post encouraging macro news locally. Indian markets could open flat to mildly higher, in line with mixed and rangebound Asian markets today.

Catch the mid-market details with Subash Gangadharan.