As suggested by the SGX Nifty, today’s opening of the Indian stock markets is anticipated to be positive. The majority of US markets closed Friday in the green, while Asian markets also remained positive. Both the Sensei and the Nifty concluded Friday’s session unchanged at home.
The Sensex finished the day at 59,655, up 22 points. At 17,624, the Nifty-50 ended neutral with a negative bias. “The validity of the bullish pattern stands above the 17,500–17,400 levels, if in case the frontline index closes below these levels then the gate is wide open till the 17,200 levels. On the higher end, Resistance is capped at 17,850 levels. A break of that levels will trigger a further momentum towards 18,000 levels or even higher,” said Rohan Patil of SAMCO Securities.
Friday marked the fifth consecutive session in which FIIs (foreign institutional investors) were net sellers, as they sold equities worth Rs 2,116 crore in the cash markets, according to provisional data available on exchanges. In contrast, DII transactions remained positive as they purchased shares worth Rs 1,632 crore, according to provisional data from exchanges.
Reliance Industries, ICICI Bank, Yes Bank, Macrotech Developers, and HDFC are the top securities to monitor today.
