US Markets were closed on Friday session but Dow Jones futures were trading almost flat.
Today Asian markets are filled with optimism and trading in green. Therefore we can expect a positive opening and will be following global cues thereafter.
Today HDFC Bank will be in lime light and need to be watched carefully.
Technical Setup for the day
Nifty 50 Range is getting narrower, Overall it is forming a rising wedge structure.
Markets are looking very strong as of now and no weakness in the market before 10550.
On upside 10700-10730 are resistance levels and should be watched.
Nifty Support 10550
Nifty Resistance 10730
FIIs Position
On the last session, FIIs have closed almost all the shorts and are Net long on Index. Any dip should be used for creating fresh longs as of now.
