Indian equity markets may rise further today

14 Dec 2022 , 08:49 AM

Indian equity markets may rise further today. Consumer Price Inflation in US slowed down to 7.1% in November from 7.7% in October.  Expectations have increased that US Federal Reserve will announce a lower interest rate hike tomorrow. 

 US markets ended in Green yesterday. Consumer Price Inflation in USA in November slowed down to 7.1% from 7.7% in October. Dow Jones increased by 0.30%. Nasdaq Composite Increased by 1.01%. NYSE Index increased by 0.61%. S&P 500 Index increased by 0.73%.

Most Asian markets have opened in Green today. Japanese Nikkei is up by 0.72%. KOSPI Index is up by 0.78%. Taiwan Index is up by 1.03%. Shanghai Index is down by 0.025%. ASX Index is up by 0.42%.

Indian markets ended the day in Green yesterday. Nifty 50 ended, up by 110.85 points. Sensex ended, up by 402.73 points. Top Gainers were IndusInd Bank and Bajaj Finance, Infosys. Top Losers were Apollo Hospitals, UPL and Hindalco. 

Technical View: Nifty is likely to find support at around 18350. 18850 is likely to act as resistance. Bank Nifty is likely to find support at around 43400. 44200 is likely to act as resistance on the upside.

TRADING call (1-2 days) BUY Escorts December future @ 2220-2230. Stop loss: 2180.15. Target: 2270. 

Derivative call- time period:(1 month) : BUY Canfin Home December future @ 540-544. Stop loss: 531.15. Target: 553.