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Markets may see a mixed day today

  • India Infoline News Service |
  • 14 Nov, 2022 |
  • 8:53 AM
Indian equity markets may see a mixed day today. After the stellar gains of Friday, there may be some profit booking today. Asian markets have opened on a mixed note. A Federal Reserve governor has said that the US central bank will not soften its fight against inflation. On Friday, foreign portfolio investors bought heavily in Indian equity markets. Stocks of Grasim, ONGC, Spicejet etc may see price movement. These company will declare their September quarter results today.

US markets ended on Friday, in Green. Dow Jones ended, up by 0.096%. Nasdaq ended, up by 1.88%. S&P 500 ended, up by 0.92 %. NYSE ended, up by 0.77%.

 Asian markets have opened on a mixed note today. Nikkei is down by 0.64%. South Korean KOSPI is down by 0.0064%. Taiwan Index is up by 0.90%. Shanghai Index is up by 0.49%. Hang Sang is up by 1.87%.

Nifty saw a day of huge gains on Friday. Short covering and fresh buying by foreign investors saw the index gain over 320 points. The day saw largest buying by foreign investors in over 1 year. HDFC and HDFC Bank led the gainers along with Infosys and Tech Mahindra. Profit booking was seen in Eicher, Hero Motor & SBI. Mid-caps also saw gains. Nifty Next 100 index gained over 1.78%.

Technical View: Nifty is likely to find support at around 18250. 18650 level is likely to act as resistance. Bank Nifty is likely to find support at around 41800 while 42800 is likely to act as resistance on the upside. 

TRADING call (1-2 days): BUY Persistent System November future at 3760-3780. Stop loss: 3693.5.  Target: 3850.


Derivative call- time period:(1 month): BUY IEX November future at 145-146. Stop loss: 142.5. Target: 149.

Invest wise with Expert advice

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