US markets performed well in yesterday’s session. Nasdaq closed at all-time high levels.
There have been significant developments in the US as Trump administration has removed H1B, H-4 visas. Due to this news DowJones and Nasdaq futures fell 1-2% in the morning session.
Therefore it is advisable to watch for global cues before taking an intraday position.
Trading Setup for Nifty50
Yesterday Nifty50 opened with a gap up and broke its important resistance of 10330. Bank Nifty overperformed Nifty50 and on an intraday basis jumped till 22,000.
The rally was not able to sustain as it gave all gains by the closing of the session. 10275 will be a key support for Intraday and must be watched out.
Nifty50 Support: 10280, 10150, 10020
Nifty50 Resistance: 10400, 10500
FIIs Position
Yesterday FIIs have increased their long position in Index marginally. Diis have sold heavily in cash market.
We can assume 10,000 to 10,500 will be range for Jun series.
Trump suspends H-1B, H-4 visas till year-end.