Indian equity markets may see a mixed day today

  • 25 Jan, 2023 |
  • 8:59 AM
  • Global cues are mixed today.

Indian equity markets are likely to see a mixed day today. Asian markets have started the day today on a mixed note. US equity markets ended yesterday on a mixed note. 

 US markets saw a volatile day yesterday.  Dow Jones climbed from down by 300 points to close up by 104 points. Nasdaq saw profit booking, to close down by 30 points. Bond yields fell further to 3.45%. US$ index fell to below 102 level. It closed near 6-month lows @ 101.88. Microsoft beat earnings estimates to see after-market gains. This could see technology stocks rally today.

Asian markets have opened on a mixed note today. Japanese 'Nikkei' is trading flat after the sharp rally of last week. Other markets are showing consolidation. Most Asian markets are closed today because of Lunar New Year holidays. The outlook looks bullish for 2023. Equities stage a comeback after a volatile 2022.

Nifty saw the early morning rally get sold into, yesterday. Derivative contracts’ expiry today saw pressure on rollover as volatility crept in. Bank Nifty was the main culprit as it swung over 470 points before closing lower by 87 points. Nifty also failed to hold the 18200 level and closed flat. Tata Motor, Bajaj Auto and Maruti led the gainers. Axis bank, Hindalco and Dr Reddy’s led the losers. Mid-caps saw pressure on rollovers. Nifty midcap 50 index closed lower by 0.63%

Technical View: Nifty is likely to find support at around 18050. 18350 is likely to act as resistance. Bank Nifty is likely to find support at around 42430. 43550 is likely to act as resistance on the upside.

Trading call:(1-14 days) :BUY Bank Baroda February future @ 179-180. Stop loss: 175.9.  Target: 183.5.

Derivative call-time period: (1 months): BUY Tata Power February future @207-208. Stop loss: 203.35. Target: 212.





Invest wise with Expert advice

ad IconAd Image

Most Read News

Article Image
  • 14 March, 2022 |
  • 7:03 AM

The US Federal committee's meeting will conclude on March 16, 2022.

Most Shared News

No Record Found