Indian equity markets may begin the day on a positive note

20 Sep 2022 , 08:48 AM

Indian equity markets may start the day on a positive note today. US equity markets closed in green yesterday.  Other Asian markets have opened in green today. SGX Nifty is up by 0.84% since morning.

US markets closed in the green yesterday. Dow Jones closed, up by 0.64%.  Nasdaq closed, up by .76%. S&P 500 closed, up by 0.69%. NYSE closed, up by 0.69%.
 
 Asian markets have opened muted today. Nikkei is trading up by 0.42%.  Taiwan Index is trading up by 0.39%. South Korean Kospi is up by 0.42%. Shanghai index is up by .42%.

Nifty saw another volatile day with swings of over 238 points before closing higher by 91 points. This as the rest of Asian region was trading in the red accompanied by weak US futures . M&M Adani Port, Bajaj Finance and SBI Life led the gainers. Tata Steel, Tata Motors and JSW Steel led the losers. Bank Nifty also closed in the green with gains of over 127 points. 
Technical View: Nifty likely to find support at around 17450. 17800 is likely to act as resistance on the upside. Bank Nifty likely to find support at around 40500 while 41500 is likely to act as resistance.

TRADING call (1-2 days) : BUY Can Fin Homes September future @ 585-590. Stop loss : 575.5. Target : 600.

Derivative call- time period:(1 month) :BUY Hindalco Se September Future @ 410-414. Stop loss: 403.5.  Target : 421.