Market Outlook: Indian markets expected to trade range bounded, as we are near F&O expiry & where as Yesterday's rally was driven by short covering. Rollovers have been slightly higher than the 6-month average, which is encouraging investors to build positions. Resistance for Nifty is seen between 2,800-2,890. The Q3 results season so far is largely in line with expectations, with no major negative surprises.Indian ADRs: ICICI Bank up 4%, Wipro up 3%, HDFC Bk, TataMotors, Infosys up 1%
On the global front: Wall Street ends with modest gain as investor’s cheered earnings surprises from American Express and others amid an underlying buzz of anxiety about the economy; Dow up 58 pts while Asia trading mixed; Seoul Composite up 4.5%.
Nifty Outlook: Pivot level: 2744
R1: 2804, R2: 2836, R3: 2896
S1: 2712, S2: 2652, S3: 2619
No comments:
Post a Comment