The key domestic benchmarks may see gap up opening today, tracking firm cues from Asian peers. The Asian peers were trading higher after data showed China's economic expansion was in line with analyst estimates.
Indian Markets are following global cues, so stay ahead of the curve. Arm yourself with complete information on global markets before setting out for your next trade.
the investors will keep a close eye on Ambuja Cements and ACC stocks ahead of their quarterly results due later today. The market may see swing in the specific stocks based on their earnings number as more corporate numbers continue to impact investor sentiments.
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Market outlooks are likely to be affected by the outcome of RBI's meeting tomorrow. Nifty is likely to consolidate within 5,370-5,530 range.
Sentiment may remain weak below 5,500 level and selling pressure may be seen until it trades below this point. For intraday trading, trend deciding level is 5,470. If Nifty shows strength above 5470 levels, then rally to 5,510/5,540/5,570 levels may be seen. If Nifty does not show strength above 5,470 levels then selling pressure till 5,410/5,370/5,325 may also be seen.
Copper Updates:
Copper in Shanghai declined on speculation that Chinese leaders' tolerance for a slower growth rate will curb demand growth at the largest user. Metal for delivery in September fell as much as 1.3 % to 52,230 yuan ($8,523) a metric ton on the Shanghai Futures Exchange and was at 52,560 yuan. Net-short positions, held by funds fell to 9,033 futures and options contracts as of May 21 from 13,115 a week earlier..
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