Here we post daily about how the Market is about to open.If you read this post you will be able to know how will be today’s market.Will the market open on a positive note or negative note.This can be predicted easily by seeing the SGX Nifty.SGX Nifty is the Nifty future trading in Singapore. SGX Nifty gives us an idea about the opening of the market.If SGX Nifty is trading many points up than it’s last close then the CNX Nifty(The domestic Nifty 50 that we use) will have a gap up opening.If SGX Nifty is trading few points up or few points down it’s last close then CNX Nifty will open on a flat note.Generally when Nifty opens on a flat note,no big movements are seen through the day though there are exceptions.If SGX Nifty is trading many points down than it’s previous close then there will be gap down opening of CNX Nifty.By using these techniques we daily predict how will be today’s opening.Here we also tell the global and the domestic factors that we should watch for today.Because many triggering factors may lead to market volatility.Knowing the triggers give you an idea when to trade and when to be on the side.Generally one should not trade on volatile days.Here is today’s market outlook:
Today on 9th May 2016 at 8.09 am the SGX Nifty is trading 37 points up suggesting at good opening for Nifty.The crude oil prices rallied more than 2% as the canda has shut down it’s oil refineries over the outraged wildfire.This development along with the Saudi Arabian replacement of oil Minister has acted as a trigger.The Asian markets are trading on a mixed note.The European markets closed on a mixed note with FTSE gaining 8.45 points and DAX gaining 18.09 points.While CAC closed 18.22 points down.US jobs data was released which missed analyst expectation. US created 1.6 lakh jobs in April keeping the unemployment figure at 5%.Though US markets gained in it’s last trading session mainly due to rally in oil prices and due to the jobs data(though it missed the expectations).
The dollar index gained after New york Federal Reserve head William Dudley said that there could be two interest rate hike in 2016 because of poor Jobs data.
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