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Indian equity markets may begin the day on a flat note today

13 Dec 2022 , 08:58 AM

Indian equity markets are likely to start the day on a flat note. US CPI data for November is likely to come today. US Federal Reserve is expected to announce an interest rate hike later in the day.  Industrial Production of India contracted y-o-y by 4% in October.  These factors may cause volatility in the markets in later half of  the day.

US markets ended in Green yesterday. Dow Jones ended, up by 1.58%. NYSE Composite ended, up by 1.16%. S&P 500 ended, up by 1.43%. Nasdaq ended, up by 1.26%. The rise in US markets yesterday, indicate to a very good probability that US Federal Reserve may lower its interest rate hike, when it announces it on Thursday.

Asian markets have opened in the green today. Japanese Nikkei is up by 0.34%. South Korean KOSPI is up by 0.090%. Taiwan Index is up by .073%. Shanghai Index is up by 0.17%. ASX Index is up by 0.22%.

Indian equity markets ended the day on a flat note yesterday. Nifty 50 ended, up by 0.55 points. Sensex ended, down by 51.10 points. Top Gainers were BPCL, Divi’s Lab and Coal India. Top Losers were Asian Paint, Infosys and Kotak Bank. 

Technical View: Nifty is likely to find support at around 18350.18750 is likely to act as resistance. Bank Nifty is likely to find support at around 42800. 44000 is likely to act as resistance on the upside.

TRADING call (1-2 days) : BUY Tata Motors December future at 416-419. Stop loss: 409.15. Target: 426.

Derivative call- time period:(1 month): BUY Tata Power December future at 218.5-220.5. Stop loss : 215.10. Target: 225.

Related Tags

  • BSE
  • nifty
  • NSE
  • sensex
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