Investment Points-Big Breaks in Dow Jones and Nasdaq: Spotted Directly in Indian Stock Market, Nifty Futures Up 25474 Points

On Wednesday, market breadth remained negative with profitable selling in Sensex, Nifty and small, mid cap stocks. The slowdown in foreign markets led to recession in the American market, which once again sounded the recession. Dow Jones and Nasdaq also experienced major crashes, the impact of which was directly reflected in the Indian stock market. Sensex and Nifty took a big hit as the trade started. The Sensex and Nifty, which closed with modest losses on Tuesday, rallied at the opening on Wednesday. A sharp drop was seen when US markets opened on Tuesday after the Labor Day holiday on Monday. The Dow Jones and Nasdaq fell as much as 3%. While most of the sectors of the SP 500 appeared in the red zone. It had a direct impact on Asian markets as well, with Japan's Nikkei also falling 3%. Gift Nifty plunged by nearly 200 points on Wednesday amid turmoil in the American market. The Sensex closed down 203 points at 82352 points, while the Nifty future index closed at 25247 points with a decrease of 106 points. The Bank Nifty future index closed at 51607 points with a decrease of 226 points of investors Aggregate assets i.e. total market capitalization of companies listed in BSE decreased. Top gainers in today's trade include IndiGo, Reliance, Grasim, Mahanagar Gas, Kotak Mahindra Bank, Lupine, Hindustan Unilever, Howells, Sun Pharma, JSW Steel. Today's top losers include Mahindra & Mahindra, Adani Ports, Axis Bank, TCS , Larsen, Infosys, Voltas, HCL Technology, Glenmark Pharma, Tech Mahindra, Bharti Airtel, Tata Chemicals stocks declined. Out of total 4054 scrips traded in BSE, the number of decliners was 1938 and the number of advancers was 1999, 117 stocks saw no change in price. While 02 stocks had bearish only seller circuit, 07 stocks had bullish only buyer circuit. NIFTY FUTURE TECHNICAL LEVELS NIFTY FUTURE CLOSE :- ( 25247 ) :- The next fluctuation is possible Nifty Future may touch the first important level of 25404 points and 25474 points from 25188 points to 25088 points, the all important level of 25474 points. Positioning around carefully. BANK NIFTY FUTURE TECHNICAL LEVELS BANK NIFTY FUTURE CLOSE :- (51607) :- The next swing is likely to see the Bank Nifty Future touch the first important level of 51808 points and 52008 points from 51474 points to 51404 points, 51272 points in the context of very important strong stoploss trading. .52008 Positioning cautiously around the point. Specific technical level regarding future stock Balakrishna Industries (2957) :- The share price of this leading company of Balakrishna Group is currently trading around Rs.2903. Buyable with a stoploss of Rs.2880, this stock is likely to register a price of Rs.2983 to Rs.2990 in a short period of time…!! Bullish focus above Rs.3003. ACC Limited (2361):- Positive breakout around Rs.2330 as per technical chart…!! Buyable from the support of Rs.2308, this stock is likely to register a price of Rs.2388 to Rs.2404. Godrej Properties ( 2920 ) :- According to the technical chart, this stock from the residential, commercial projects sector has a profit potential around Rs.2963 with a target price of Rs.2898 to Rs.2880. Consider a trading stoploss of Rs.2970. Lupine Limited ( 2290 ):- This stock is sellable with a stoploss of Rs.2347 registering an overbought position around Rs.2333..!! It is likely to show the price of Rs.2274 to Rs.2260 in phases…!! Above Rs.2360 will look bullish. Future direction of the market… Friends, Indian stock markets were also cautious along with global markets due to the tension over Japan's ban on chip manufacturing equipment sales to China and the possibility of renewed Israel-Hamas war due to the killing of Israeli hostages by Hamas. There is no effect on the buying of retail investors. Moreover, retail investors have taken advantage of the decline and have poured a considerable amount into the market. Indian retail investors have set a record by investing more than foreign investors, banks and insurance companies. On the other hand, foreign investors are cautious in the Indian market. . There is a debate over the estimate of India's economic growth rate for the current financial year. While reducing the estimate, some are putting the rate lower than seven percent. However, in a statement issued by the World Bank, India's GDP estimate for the financial year 2025 has been revised to seven percent. The World Bank had earlier estimated it at 6.60%. Private consumption and The World Bank has raised its outlook for India amid expectations of robust investment. Nomura on Monday cut the country's GDP forecast for fiscal 2025 to 6.70% from 6.90% earlier. Earlier, Goldman Sachs and JP Morgan had estimated the GDP of the country at 6.50% for the current financial year. The Reserve Bank of India has estimated the economic growth rate of the country at 7.20%. The author is a SEBI registered research analyst and proprietor of Investment Point.

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