Markets ended on a flat note after failure to sustain above 16700 led by weakness in Bank Nifty while broader market remained positive. The 21-day historical volatility in Nifty 50 index has fallen drastically to 8.5% which means we may see sharp reversal in market in case Nifty closes below 16550. The rising wedge setup in Nifty to USDINR also explains that the markets are at apex zone of large setup hence volatility is likely to expand in the coming days.
U.S markets gained with chipmakers and financials helping to push the S&P 500 and the Nasdaq to record closing highs as investors look to the upcoming Jackson Hole Symposium for assurances that Federal Reserve’s timeline for policy tightening remains intact. The Dow Jones Industrial Average rose 39.24 points, or 0.11%, to 35,405.5, the S&P 500 gained 9.96 points, or 0.22%, to 4,496.19 and the Nasdaq Composite added 22.06 points, or 0.15%, to 15,041.86.
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