Markets may continue the positive momentum of yesterday, today

27 Dec 2022 , 03:08 AM

Indian equity markets are likely to continue the positive momentum of yesterday, today too. Most Asian markets have opened in Green today. Oil prices increased yesterday. Russian President, Vladimir Putin has said that he is ready to negotiate peace terms with Ukraine.

US markets were closed yesterday for trading because of Boxing Day holiday.

Most Asian markets have opened in green today. Japanese Nikkei is up by 121.96 points. South Korean KOSPI is up by 10.54 points. Shanghai Index is up by 15.50 points. Taiwan Index is up by 119.19 points. 

 Nifty saw a day of significant gains yesterday. Nifty 50 ended, up by 207.80 points. Sensex ended, up by 721.13 points. Top Gainers yesterday were IndusInd Bank, State Bank of India, and Hindalco. Top Losers yesterday were Cipla, Divi’s Lab, Dr Reddy’s. 

Technical View: Nifty is likely to find support at around 17900. 18400 is likely to act as resistance. Bank Nifty is likely to find support at around 42000. 43050 is likely to act as resistance on the upside.

Trading call:(1-14 days) BUY Honeywell Automation January future @ 41000- 41300. Stop loss: 40320. Target: 42200.

Derivative call-time period: (1 months) BUY Reliance January future at 2540-2545. Stop loss: 2491. Target: 2600.