Markets To Remain Volatile With Trump’s Executive Order On Refugees

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We expect Markets to remain volatile today as Trump has passed an executive order banning refugees from seven Muslim dominated states from entering United States. With Finance Minister Arun Jaitley to announce 2017 – 18 union budget on 1st Feb (Wednesday), this week might turnout to be more eventfull then otherwise thought . Moreover speculative movement is expected on UP election. First phase of election will start from 11th Feb and results will be declared on 15th of March. RBI to announce its Monetary Policy on 8th Feb , expectation of which will also have a major impact on the markets. Federal Reserve to announce its monetary policy on 1st Feb midnight at 12.30. This may also affect the market movement.

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Bull has shown strong control on Indian Market on Friday, where Nifty rallied 0.45% and Bank Nifty rallied 1.21%.Nifty opened at 8611 and made a low of 8607, the index rallied to make high of 8673 and closed at 8641.

FII’s continues to buy in cash segment in last three trading sessions. The immediate target for Nifty is 8745.

Bank Nifty also participated in the rally on Friday and made a high of 19795 and closed at 19708, 235 points up from its previous day’s close of 19473. ICICI Bank has risen by 4.64%, which has 19% weightage in the Banking Index. The next level of Bank Nifty is 19862.

Important result to be announced today is Dish TV, Tech Mahindra,HDFC, Godrej Consumer,Grasim, Bajaj Finance.
Nifty Future is opening at 8629 as per SGX Nifty at 8:50 am IST,almost 44 points below its previous close of 8673.


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