A morning walk down Dalal Street | Investors should remain long as Nifty can move towards 11,800
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Indian markets hit a fresh record high on Tuesday supported by positive global cues. The Nifty50 hit a fresh record high of 11,760.
In fact world stocks on Tuesday hit a six-month high lifted by receding fears of trade wars.
On the economic front, the US will releases the second version of Q2 GDP on Wednesday.
Growth is expected to be revised lower to 4 percent, down from the initial reading of 4.1 percent.
However, that would continue to mark the fastest rate of growth in four years, media reports suggest.
Coming to Indian markets, 11768 is a crucial resistance to watch out for Nifty, and any level above 11768 could extend the rally towards 12000.
As far as support is concerned 11,620 is a level to watch out for| A stop loss for all long positions can be kept at 11,700 levels
Indian rupee ended up 6 paise at 70.10 against dollar, recovers from record closing low.
Foreign institutional investors (FIIs) sold shares worth Rs 161 crore and domestic institutional investors also sold Rs 199 crore in the Indian equity market on Tuesday, as per provisional data available on the NSE.