The benchmark indices ended in the green after opening on a weaker note. Clarification from the Infosys management in reference to the whistleblower controversy provided the necessary boost to the markets. On macro front, Fitch Solutions has raised India’s fiscal deficit forecast to 3.6% of the GDP for this fiscal year, from 3.4% previously, due to weak revenue collections resulting from sluggish economic growth and government’s sweeping corporate tax rate cut.
Global Markets
SoftBank reported its first quarterly loss in 14 years onWednesday, whiplashed by an $8.9 billion hit at its giant Vision Fund. European shares took a breather on Wednesday after closing at a four-year peak in the previous session, as a mixed bag of earnings reports and weak services sector data from the euro zone weighed on sentiment.European STOXX 600 index struggled for direction after rising about 0.1% in early trading.
Nifty Chart
Nifty Index closed 48.85 points above at 11966.05 on 06.11.2019. We recommend Buy with strict stoploss below 11920 for target 12000 and 12050 in Intraday. Nifty Support : 11920-11880, Resistance : 12000-12050.
