Mid-session Outlook(20-05-2016)
Although most time positive zone trading since opening today but Indian markets have completely under performed Asian and European markets today. View is cautious because good selling on the back of strong Global cues can not be ruled out in this situation. As SEBI tightened norms on P-notes after the closing of Indian markets yesterday therefore Its reaction is being seen today because this issue will have direct impact on liquidity towards Indian markets.
Nifty is sideways between 7774-7812 today and valid break out of this today trading range will give first strong indication of P-notes tightening impact on Indian markets therefore should be firstly watched now.