Will Gap down Nifty Move up in Later Part of the Day?

SGX NIFTY signals a negative start for the Indian Stock Market. Nifty will open gap down as USA inflation data is above comfortable levels.

- Nifty futures on the Singapore Exchange traded 31 points, lower at 17,896 signalling that the Indian Stock Market is headed for a negative start. 

Bear claw marks all-over the Global Markets 

- Post the US consumer price data reveal, which was published on Tuesday, investors' sentiments turned sideways as it offered little to no expectations from the FED to bring a change in the rate hikes, pushing the indices back to the bears. Dow Jones declined 0.46% while NASDAQ rose 0.56% during the day.

Asian markets also reacted negatively to the data, further declining into the bear zone.

Rupee declines

-  Expectations of the FED continuing to increase the interest rates to fight the ever-increasing inflation, led the dollar to gain for 2nd consecutive session this week. The rupee declined 12 paise further to close at 82.82 per dollar, yesterday.

Nifty Spot View: 15/02/2023

Cmp: 17929.85

Support & Downside Range: 17858--17719

Resistance & Upside Range: 17975—18030--18265

Short Term Trend Reversal Level: -- 17719

Trading View: After amazing up move in yesterday's session today we have a key level to watch is 17858 spot levels till we are trading above this levels bulls will try to break 17975 hurdle and try to gives a daily close above it today, whereas downside 17719 now acts as our reversal level on this on going up move.

Make use of our Nifty Option tip and make money on a daily basis.

Trading strategy for day/month

Optionstrade Nifty 18000 march month end call buy at 275 stop loss to follow 17719 spot upside projection for profit booking 18265 conservative and aggressive 18475 spot levels Note: a two days continues close above 17975—18030 spot one can add more qty also in this trade for upside projection given, Conservative traders and take spread 18000 month end march call buy at 275 and sell 18300 march month end call at 140