The Sensex ended with small losses while the Nifty ended almost flat amid negative global cues after US President Donald Trump stepped up his tough talk on trade. The barometer index
, the S&P BSE Sensex
, fell 45.03 points or 0.12% to settle at 38,645.07. The Nifty 50 index rose 3.70 points or 0.03% to settle at 11,680.50.
The indices opened lower, but bounced back in early trade. Indices once again slipped into negative terrain in morning trade and hit fresh intraday low in mid-morning trade. Indices came off day’s low and were trading with small losses in early afternoon trade. Indices traded in narrow range with small losses in mid-afternoon trade.
Domestic and global macroeconomic data will dictate trend on the bourses next week. Auto stocks
will be in focus as the auto companies will start announcing monthly sales numbers for August 2018 starting from 1 September 2018.
On the domestic macro front, the government will announce data on second quarter gross domestic product (GDP) after market hours on Friday, 31 August 2018. The Indian economy expanded 7.7% year-onyear in the first three months of 2018, higher than a downwardly revised 7% in the previous quarter. India’s infrastructure output data for July 2018 will be declared after market hours on Friday, 31 August 2018. India’s infrastructure output rose 6.7% year-on-year in June 2018, following an upwardly revised 4.3% increase in May.
Nifty Weekly Levels and Trading Strategy
Nifty Traders may follow the below mentioned levels for 03.09.2018 to 07.09.2018
Buy above 11,700 for targets of 11,760/11,800
Sell below : 11,600 for targets 11,540/ 11,480
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