Report by- Team PurpleTrades
Indian markets had a slightly bullish closing last week which indicates that there are bulls still in the game and bears are not dominating yet. The global cues suggest a completely different story here. As we all know global markets have huge implications on our markets as well. US market Indices like NASDAQ and DOW JONES along with European market Indices like DAX, CAC and FTSE usually are closely monitored by both DII, FII and the retail investors. Usually global markets give us a mixed reaction altogether. Sometimes the global indices give mixed signals and sometimes the gains or the losses are not that significant. But this Friday the global markets, special the US and the European markets witnessed a huge movement in the upwards direction. The movement was much larger than anticipated.
As you can see on the tabular data given above the market Indices moved 2-4% in a day. NASDAQ moved almost 4 percent which is huge.
European markets also mirrored the same sort of movement and moved up by 2-3% where the German Index DAX was the highest gainer with 3.37% of gains.
US market movement-
As you can see on the table given above the US market Indices moved up significantly. The movement was in no way short-lived as all the Indices including NASDAQ, DJIA, Russell 2000 all moved up much higher than anticipated and this shows that the global markets are improving.
European market movement-
As you can see on the table given above the European market Indices moved up significantly. The movement was in no way short-lived as all the Indices including Global DOW, FTSE, DAX all moved up much higher than anticipated and this shows that the global markets are improving.
Conclusion for Indian markets-
Considering the bullish movement we saw in the Indian Indices this Friday and the global markets reaching newer heights, we in PurpleTrades can conclude the fact that Indian markets are going to show bullish signs tomorrow. We suggest all traders to initiate trades only in the Long direction and also trade with caution and do your own analysis before placing any trades.