iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Indian equity markets likely to begin the day on a flat note

9 Nov 2022 , 08:54 AM

Indian equity markets are likely to start the day on a flat note today. Asian markets have opened mixed today. Foreign Portfolio Investors have been providing strong buying support to Indian equity markets over the past few days. If this trend continues today then equity markets may rise again. Stocks of companies such as Tata Motors, Lupin, Nalco, Balrampur Chinni Mills etc may see price movement. These companies will be declaring their September quarter results today.

US markets saw the best 3-day rally yesterday.  Dow Jones gained over 1150 points. Fall in US$ increased expectations of higher return on equity for many US companies. This was coupled with buying due to short covering. Nasdaq gained moderately, ahead of the CPI numbers that are due this Thursday. Bond yields moderated to 4.15%. US dollar index fell to 109.65.

 Asian markets have opened mixed today.  Japanese 'Nikkei' is seeing profit booking after the rally of last 4 days. It is trading mildly in the negative. The other indices are also range- bound today. Most are trading sideways.  Investors await the inflation data, due in the US tomorrow. This data will set the tone for Federal Reserve action over interest rates, in December.

Nifty saw a day of swings before closing in the green. Last hour buying by foreign investors saw the index close with gains of 85 points.  Foreign investors have been net buyers for the last 7 days. Profit booking by local mutual funds saw intra-day volatility. Banks led the rally. SBI and Bank Baroda numbers beat expectations. Britannia, SBI and Adani Ent led the gainers. Divi's Lab, Cipla & Asian Paints saw profit booking. 

Technical View: Nifty is likely to find support at around 18050. 18450 is likely to act as resistance. Bank Nifty is likely to find support at around 41200. 42300 is likely to act as resistance on the upside. 
TRADING call (1-2 days) BUY PNB November future @ 42-42.25. Stop loss: 41.25. Target: 43.50.

Derivative call- time period:(1 month) BUY Tata Steel November future @ 107-108. Stop loss :105.30. Target : 110.


Related Tags

  • BSE
  • nifty
  • NSE
  • sensex
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.


Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp