Markets may start the day in green

15 Nov 2022 , 08:44 AM

Indian equity markets may start the day in green today. Retail price inflation of India has come down to 6.77% in October from 7.41% in September. This is the lowest level of inflation in three months. This may increase the hope that RBI may go soft on interest rate hikes.  Foreign Portfolio investors remained net buyers yesterday, in Indian equity markets.

US markets ended yesterday in red. Dow Jones ended, down by 0.63%. Nasdaq ended, down by 1.12%. S&P 500 ended, down by 0.89 %. NYSE ended, down by 0.81%. Bond yields traded near 3.86%. US dollar index gained mildly to close near 106.65.
 
 Asian markets have opened on a mixed note today. Nikkei is down by 0.0080%. South Korean KOSPI is down by 0.29%. Taiwan Index is up by 2.64%. Shanghai Index is up by 0.58%. Hang Sang is up by 2.74%.

Indian markets end the day in red, yesterday. Nifty 50 was down by 20.55 points. Sensex was down by 170.89 points. Top Gainers were Hindalco, Apollo Hospitals, Tata Motors. Top Losers were Dr Reddy’s, Coal India, ITC. 

Technical View: Nifty is likely to find support at around 18250. 18650 level is likely to act as resistance. Bank Nifty is likely to find support at around 41800 while 42800 is likely to act as resistance on the upside. 

TRADING call (1-2 days): BUY Godrej Properties November future at 1312-1317. Stop loss: 1288.  Target: 1345.

Derivative call- time period:(1 month): BUY Maruti November future at 9165-9185. Stop loss: 8990. Target: 9365.