Indian stock markets may witness a day full of gains today. Yesterday markets ended the session with record gains, at intraday high levels.
Globally, US markets were off with gains. Dow Jones ended 212 points higher. Nasdaq was up by 220 points. S&P 500 closed 50 points higher.
Asian stocks showed caution on Wednesday as better-than-expected economic updates from the United States clashed with worries about global growth. Chinese Shanghai Composite ended 0.35% higher. Hong Kong’s Heng Seng was trading 0.25% higher. Japan’s Nikkei 225 was up by 0.93%. Taiwan index was trading 0.33% higher. South Korean Kospi was trading 0.47% lower.
Yesterday, the top gainers were HDFC Life, Apollo Hospital, SBI, JSW Steel, and SBI Life. Cipla, Britannia, Tata Consumer, Adani Ports, and UPL were the biggest laggards.
Oil prices surge as a decline in US crude and gasoline stocks exceeds expectations.
Technical View: Nifty finds support around 18700 while, 18900 will act as resistance. Bank Nifty finds support around 43850 while 44600 will act as resistance on the upside.
Trading call:(1-14 days) BUY Persistent Systems June future @ 4895-4915, stop loss 4807 & target 5010
Derivative call-time period: (1 month) BUY DLF July future @ 484-487, stop loss 475.3 & target 497.
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