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Nikkei Futures Opening Update as on 05 Nov. 2020

The Nikkei 225 Future is trading at 24,175.00 up with +1.83% percent or +435.00 point.The  Nifty Future is trading at 12,110.20 up with +1.57% percent or +187.40 point. The Hang Seng Future is trading at 25,642.00 up with +2.81% percent or +700.00 point.

TODAY’S FACTORS AND EVENTS

the Nikkei 225 index has likely entered a technical correction with an immediate support level found at 23,000 – the 100-Day SMA line (chart below). The index has likely broken under a “Rising Wedge” which has been forming since June, and thus has opened the room for further downside. Breaking below 23,000 support may signal further losses with an eye on 22,700 and then a major support level at 21,690 – the 23.6% Fibonacci retracement.

PREVIOUS DAY ACTIVITY

For the day Nikkei 225 is trading at 24,105.28 up with +percent or +410.05 point.the  nifty closed at 12,087.35 up with + percent or +178.85 point. Hong Kong’s Hang Seng is trading at 25,630.81 with percent or +744.67 point.

WORLD MARKETS

For the day the Dow is trading at 27,847.66 up with +percent or  +367.63 point. The S&P 500 is trading at 3,443.44 up with + percent or  +74.28 point. The Nasdaq Composite is trading at 11,590.78 up with + percent or  +430.21 point.

In other parts of world, Japan’s Nikkei 225 is trading at at 24,105.28 up with +percent or +410.05 point. Hong Kong’s Hang Seng is trading at 25,601.06 with +percent or +714.92 point. China’s Shanghai  Composite is trading at 3,320.13 with + percent or +42.69 point. India’s BSE Sensex is trading at 41,269.40 up with +percent or  +653.26 point at 12:15 PM.

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