Markets take a breather from record highs, open flat amid Trump controversy

Benchmark indices took a breather on Wednesday after opening at record highs for two days straight tracking global peers amid political controversies surrounding US President Donald Trump and ahead of US Fed Chair Janet Yellen’s testimony. Emails disclosed by President Donald Trump's eldest son cited Russian support for his father's 2016 election campaign Back home, investors remained on the sidelines awaiting CPI data, which is expected to be at record low and put pressure on RBI to cut rates in the coming monetary policy review meet. Nifty Trading Tips

 
At 9:17 am, the S&P BSE Sensex was trading at 31,805, up 58 points while the broader Nifty50 was ruling at 9,810 up 25 points In the broader market, the S&P BSE Midcap and S&P BSE Smallcap index rose 0.4% each. "The overall trend is still positive in the short term wherein 9,900 levels is an immediate target in the short term whereas above 10,000 levels in the medium term. On the lower side, 9,740 is an immediate support and below that 9,710. The momentum indicator MACD is well in the buy mode on the daily charts which is very supportive and bullish in the short term," said Anand Rathi Technicals in a note. Future & Option Trading Tips