Another day in Green likely for Indian equity markets

1 Dec 2022 , 08:54 AM

Indian equity markets may again see a day in Green today. US Federal Reserve Chairman ,yesterday, indicated in a speech that interest rate hikes in US may slow down to 50 basis points in December. Any slowing down of interest rate hikes by US central bank is a positive factor for Indian equity markets and Indian economy.

US markets ended strongly in the green yesterday. This happened because of indication by Federal Reserve Chairman that interest rate hike in December will be slowed down to 50 basis points. Dow Jones ended, up by 2.18%. Nasdaq ended, up by 4.41%. NYSE index ended, up by 2.25%. S&P 500 index ended, up by 3.09%.
 
Asian markets have opened in the green today.  Japanese ‘Nikkei’ is up by 1.05%. South Korean KOSPI is up by 0.43%. Taiwan Index is up by 1.34%. Shanghai Index is up by 0.97%. Asian markets too are reacting positively to lower interest hike indication by US Federal Reserve Chairman.

Indian markets ended the day in Green, yesterday. Nifty 50 ended, up by 140.30 points. Sensex ended, up by 417.81 points. Top Gainers were M&M, Hindalco, Grasim. Top Losers were IndusInd Bank, State Bank of India, HCL Technologies.

Technical View: Nifty is likely to find support at around 18450. 18850 is likely to act as resistance. Bank Nifty is likely to find support at around 43000. 43500 is likely to act as resistance on the upside. 
 
TRADING call (1-2 days): Buy Reliance at 2710-2730; stop loss: 2670;  and target: 2800.
 
Trading call- time period:(1 month) : BUY Infosys at 1620-1635; stop loss : 1590; and target: 1700.