Good Morning & Welcome to Thursday's trading action at Dalal Street, dated 8th August 2019

In early action, SGX Nifty is seen slipping down despite fall in crude oil prices.

That brings us to our call of the day which suggests that caution should be the buzzword as a 35 basis point rate cut by RBI yesterday in its Monetary Policy Decision also could not help uplift market sentiment.

7 AM GLOBAL UPDATE:

DOW (-22, 26007)

NASDAQ (+30, 7863)

SGX NIFTY (-15, 10851)

NIKKEI (+73, 20589)

HANG SENG (+193, 26190)

BOVESPA (+619, 102782)

OIL (+1.50, $52.59)

GOLD (-11, $1509)

USD/INR: 71.175

Institutions:

FII: - 383.66 Cr

DII: +531.56 Cr

SUCCESSFUL INVESTING IS ANTICIPATING THE TRENDS OF:

Global: Positive.

FII: Negative.

DII: Positive.

F&O: Negative.

‪Sentiment: Negative.

NIFTY’s CRUCIAL LEVELS:

Nifty’s CURRENT MARKET PRICE: 10,856.

Nifty’s SUPPORT:

Intraday: 10751/10701.

Medium Term: 10001.

Long Term: 9,251.

Nifty’s RESISTANCE:

Intraday: 11071/11139.

Medium Term: 11287/11507.

Long Term: 12,001.

Nifty’s RANGE:

Intraday: 10811-10951.

Medium Term: 10701-11507.

Long Term: 10001-11901.

Nifty’s OUTLOOK:

Intraday: Neutral.

Medium Term: Neutral.

Long Term: Neutral.

*IMPORTANT THEMES FOR THE DAY:

1. US-China trade war concerns continue to rule the roost.

2. Yesterday, Pakistan decided to end diplomatic ties with India, expelled envoy as well.

Outlook for Thursday: A volatile session on cards.

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