Today’s Indian stock markets are predicted to begin flat with a bullish tilt, as indicated by the SGX Nifty. The SGX Nifty was up 11 points at 6:45 a.m. On Thursday, the Dow Jones, S&P 500, and Nasdaq all finished in the green.
The Sensex closed 346 points higher at 57,960 on Wednesday, while the Nifty closed 129 points higher at 17,080. The Nifty Bank closed 342 points higher at 39,910. “Nifty, as expected, seems to have made a short term bottom. It has closed at the highest in 5 days. 17207-17255 could be the next resistance for Nifty while 16985 could be a support,” said Deepak Jasani of HDFC Securities.
Today’s key levels to monitor for the Nifty are 16,978 on the downside and 17,120 on the upside.
On Wednesday, foreign institutional investors propelled the Indian markets higher. According to preliminary statistics from exchanges, FIIs were net purchasers in the cash markets to the tune of Rs 1,245 crore. DIIs continued to buy shares worth Rs 823 crore on Wednesday, according to preliminary data from exchanges.
Tata Power, GR Infraprojects, BEL, and Maharashtra are stocks to watch today. Others include Seamless.