According to pivot charts, the key support levels for the Nifty are placed at 17,088.4 and 16,980.1. If the index moves higher, the key resistance levels to watch out for will be 17,397.4 and 17,598.1. Wall Street's major indexes closed lower on Friday, with the Nasdaq leading the declines as investors bet that a strong jobs report would not slow the Federal Reserve's withdrawal of support while they grappled with uncertainty around the Omicron coronavirus variant.US MarketsThe Dow Jones Industrial Average fell 59.71 points, or 0.17 percent, to 34,580.08, the S&P 500 lost 38.67 points, or 0.84 percent, to 4,538.43 and the Nasdaq Composite dropped 295.85 points, or 1.92 percent, to 15,085.47.Asian MarketsAsian share markets got off to a cautious start on Monday as Omicron emerged in more countries and investors faced a week-long wait for key U.S. inflation figures that could settle the course of interest rates.A mixed U.S. jobs report did little to shake market expectations of a more aggressive tightening by the Federal Reserve, and the consumer price report due on Friday is likely to make the case for an early tapering.Omicron remained a concern as the variant spread to about one-third of U.S. states, although there were reports from South Africa that the cases there had mild symptoms.Early trade was sluggish as MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.2 percent.Japan's Nikkei eased 0.7 percent even as the government considered raising its economic growth forecast to account for a record $490 billion stimulus package.SGX NiftyTrends on SGX Nifty indicate a flat opening for the broader index in India with a gain of 26 points. The Nifty futures were trading around 17,261 levels on the Singaporean exchange.
According to pivot charts, the key support levels for the Nifty are placed at 17,088.4 and 16,980.1. If the index moves higher, the key resistance levels to watch out for will be 17,397.4 and 17,598.1. Wall Street's major indexes closed lower on Friday, with the Nasdaq leading the declines as investors bet that a strong jobs report would not slow the Federal Reserve's withdrawal of support while they grappled with uncertainty around the Omicron coronavirus variant.US MarketsThe Dow Jones Industrial Average fell 59.71 points, or 0.17 percent, to 34,580.08, the S&P 500 lost 38.67 points, or 0.84 percent, to 4,538.43 and the Nasdaq Composite dropped 295.85 points, or 1.92 percent, to 15,085.47.Asian MarketsAsian share markets got off to a cautious start on Monday as Omicron emerged in more countries and investors faced a week-long wait for key U.S. inflation figures that could settle the course of interest rates.A mixed U.S. jobs report did little to shake market expectations of a more aggressive tightening by the Federal Reserve, and the consumer price report due on Friday is likely to make the case for an early tapering.Omicron remained a concern as the variant spread to about one-third of U.S. states, although there were reports from South Africa that the cases there had mild symptoms.Early trade was sluggish as MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.2 percent.Japan's Nikkei eased 0.7 percent even as the government considered raising its economic growth forecast to account for a record $490 billion stimulus package.SGX NiftyTrends on SGX Nifty indicate a flat opening for the broader index in India with a gain of 26 points. The Nifty futures were trading around 17,261 levels on the Singaporean exchange.