Israel-Palestine conflict impact on all Global and Indian Markets
Pre-open Outlook(18-07-2014)
Pre-open Outlook(18-07-2014)
As Israel launched a ground attack in Gaza and a passenger jet shot down by missile in Ukraine therefore all the Global markets are down and some are more than 1% weak,resultant sentiment is completely depressed today morning and weaker opening will be seen in Indian markets. 10 days of Israel-Palestine conflict and its enhancement may result involvement of other Arabian countries also in this war therefore it may impact Crude rates and Global stock markets.
Following conclusion has already been updated in Technical Analysis and Market Outlook(15-07-2014 , 16-07-2014 & 17-07-2014):-
Nifty will be understood sideways between 7423-7808
As consolidation was seen between 7615-7635 yesterday therefore fresh selling is firstly required for sustaining below 7615 and follow up selling on the back of mentioned news will mean slipping towards next following supports:-
1- 7534-7572
2- 7460-7475
3- 7423-7445
Next resistances at higher levels are as follows:-
1- 7690-7731
2- 7756-7800
Long and Intermediate Term trends are up and Short Term is sideways between 7423-7808 and valid break out of this range will decide next big trend. Nifty will prepare for Post Budget big moves within this range and finally big moves are still expected above 7808 but today and may be coming sessions may remain in the grip of Israel-Palestine conflict therefore above mentioned levels should be watched for the beginning of next trend.