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The data of SGX Nifty is showing signs of slowdown in the market on Friday. After the opening of the Sensex market in the Indian markets on Friday, at 9:16 pm, 373 points fell 52645 compared to the previous day, while the Nifty fell 120 points to trade at 15660.
Nifty Furies data is trading 7.5 points higher at 15,730 on the Singapore Exchange. Due to this, a slow start is expected in the Indian markets.
On Thursday, Nifty showed selling pressure around 15900. After that it somehow managed to close around its opening price. It was seen forming a long legged doji candle on the daily chart, such candles indicate that there is uncertainty in the market.
Market analysts believe that the Nifty index needs to move out of the range of 15,600-900 for it to make a good move. After the first fall, oil markets also saw a rise of 3%.
During this, the Indian rupee was seen trading in the red mark for the fifth consecutive day. The Indian rupee has slipped to 79.06 against the dollar on Thursday.
If we talk about FNO, then the level of 15640 to 15680 can act as important support in Nifty on Friday. At the same time, 15760 can act as an important resistance. In Bank Nifty, 33180 is necessary support and 33500 can act as necessary resistance.
