Commerce Setup | Prashant Nair’s View On Market 

– Submit US market shut, Fitch downgrades US sovereign ranking by one notch.
– US sovereign ranking strikes to AA+ from AAA.
– Fitch is one in every of three large ranking businesses.
– Fitch cites US fiscal deterioration and authorities debt burden as causes.
– Final downgrade to US sovereign ranking was by S&P.
– Market response (FX, charges, equities) has been gentle to this point.
– US Treasury Sec Yellen supplied a vociferous rebuttal to the choice.
– In a single day US market session: US 10y yield tops 4 %, Greenback Index > 102.
– Equities shut: S&P-500 down 0.27 %, Nasdaq down 0.43 %. 
– Nifty closed just under 19,790, contact level on falling trendline.
– Nifty has assist at 20-day transferring common at 19,616.
– Financial institution Nifty is sitting above the assist of 20-day transferring common at 45,408.

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