Wake Up Call: Nifty 50 looks for a bounce from lower levels amid strong global cues, RIL AGM

Strong global markets to aid sentiment. Dow Jones is up 247 points on Friday. US markets to end August with deep losses, Nasdaq is down 5.3 percent this month, so far. 

Friday’s US monthly jobs report is awaited this week

Nifty is in a tight trading range between 19200 and 19500.  The index is facing resistance at its 50 day moving average (DMA) at 19375 and 100 DMA of 19420.

Bank Nifty is unable to provide any support. It is nifty down 2.7 percent in the past one month. 

The Reliance Industries annual general meeting (AGM) is at 2pm today. All eyes are on any timelines for its retail and Jio IPOs