Indian equity markets may begin the day in green

7 Nov 2022 , 08:54 AM

Indian equity markets may start the day in green today. US markets ended Friday in green. Asian equity markets have opened strongly in the green today. Stocks of Divi’s Lab, Bharat Petroleum, Ujjivan Small Finance Bank, Ceat etc may show price movement. These companies will be declaring their September quarter results today.

US markets ended the day in green on Friday. Dow Jones ended, up by 1.26%. Nasdaq ended, up by 1.28%. S&P 500 ended, up by 1.36%. NYSE ended, up by 1.71%.

 Asian markets have opened in green today. Nikkei is up by 1.28%. South Korean KOSPI is up by 0.76%. Taiwan Index is up by 1.02%. ASX is up by 0.33%. Shanghai Index is down by 0.35%. Hang Sang is up by 1.13%.

Nifty 50 ended Friday, up by 0.36%.  Top gainers were Adani Enterprises, Hindalco, Bajaj Finserv. Top Losers were Hero Motors, Dr Reddy’s, Cipla.

Technical View: Nifty likely to find support at around 17850. 18400 is likely to act as resistance on the upside. Bank Nifty likely to find support at around 40800. 41800 is likely to act as resistance on the upside. 

TRADING call (1-2 days): BUY SBI (CE) 600 strike 24th November @ 16-18, stop loss 6 & target 36.

Derivative call- time period:(1 month): BUY Jindal Steel November future @ 479-483, stop loss 471.30 & target 491.