Global Tariff Turbulence: Weak Global Cues Keep India’s Markets on the Back Foot

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Global Cues: Wall Street closed mildly lower with S&P 500 down 0.06% at 6,940, Dow off 0.17% at 49,353, and Nasdaq 100 down 0.07% at 25,529. Financials under pressure amid regulatory chatter.

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Indian ADRs Mixed: Infosys ADR fell 1.01% to $18.63, HDFC Bank up 0.43% to $32.65, ICICI up 0.16% to $30.87, Reliance GDR down sharply 3.57% to $62.10.

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Asia Cautious: Nikkei down 0.55% near 53,190, Hang Seng off 0.35% at 26,558, Shanghai up modestly 0.29%. Gift Nifty futures up 0.16% at 25,609, hinting flat Indian open.

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Geopolitics: Trump's tariff threats on Europe over Greenland rattle global sentiment, raising trade war fears with potential EU retaliation.

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Domestic Focus: Bank earnings mixed—HDFC strong, ICICI provisions weigh. FII selling continues (~₹11,700cr Jan outflows), DIIs provide support. Budget Feb 1 key watch.

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Technicals: Nifty support 25,400-25,350, resistance 25,600-25,700. Bank Nifty support 59,800, resistance 60,100-60,400. Elevated volatility persists.

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Commodities: Gold +1.64% at $4,670/oz, silver surges 4% to $93.68/oz on safe-haven bid. WTI crude +0.27% at $59.39/bbl.

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Trading Plan: Level-based trades only. Sell rallies near resistance, buy dips to support. Favor quality banks on weakness, avoid chasing breakouts amid FII flows and tariff uncertainty.