The SGX 50 is suggesting a slight down take, a cut of around 10 to 20 points to begin trade with. The reason for that is the US markets have closed with minor cuts. The Dow Jones was down 0.6 percent, the S&P500 ended lower by 0.2 percent. The Nasdaq was down close to about 0.1 percent. So global markets have taken a bit of a breather. There is a pause at the rally and that might reflect in the Indian market.But separately for the Indian markets, we've been facing some resistance. Now Monday was the fourth instance in the last six trading sessions that the Nifty50 index crossed the mark of 18,600 each day but failed to sustain above those levels. So this 18,062 in fact was the intraday high on the Nifty last week.This morning, we don't have the global queues to propel us higher.The big thing to watch out this week is the RBI monetary policy, but that will be known only on Thursday. On the other hand, midcaps have been doing well.

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06 Jun 2023