Nifty breaches 8000 level

The technical analysts predicting the market dynamics will have to rethink over  the ground of the analysis. The Nifty has breached 8000 level on December 22, first time since November 25, 2016.The Sensex as on December 22, has fallen by over 180 points.

The wrath in the Indian markets is  due to the  global markets remaining muted and very thin trade being experienced in the last couple of days ahead of the holidays. The Nasdaq Composite Index on December 21 closed at 5,471.43, down -12.51 (-0.23%) lower from its previous close of 5,483.94.  

The Asian markets are all witnessing a thin trade and Japan's Nikkei 225 is off 0.34 per cent; China's Shanghai Composite is trading lower by 0.18 per cent. The global markets are expected to trade flat to negative on the account of thin volumes.

However, the Indian markets will now be focusing on the GST council meet, which is scheduled over December 22-December 23. The Indian markets are expected to react to the outcome of the meet, so the perils of volatility continue to loom over the Indian markets.