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On the other side, foreign portfolio investors (FPIs) continued their selling in domestic stocks as their offloading stood at Rs752crore, while domestic institutional investors (DIIs) extended the buying support to the tune of Rs1,272.29 crore, according to the NSE data.
The Union Finance Minister, Nirmala Sitharaman has announced the major economic boost package to NBFCs, auto, housing, MSMEs, equity markets and banking as the NDA government okayed measures on tax surcharge, GST refunds, easier loans and demand generation.
The NSE Nifty indicates that a break above 200DMA (day moving average) and it may take it from 11,400 to 11,600 range. Dalal Street is expected to trade in a positive bias awaiting further developments regarding additional government measures and US-China trade talks.
Nifty futures on Singapore Stock Exchange were trading at 11,081.50, a net gain of 0.26 per cent, and this is indicating positive trading on Tuesday. According to technical charts, Nifty formed Hammer candle and buying support would depend upon on a follow up to a Piercing candle.