Going forward, the zone of 10,850-10,860 is likely to act as a stiff hurdle for the Nifty as the level of 10,858 is an upper gap hurdle. On the other hand, the level of 10,710 is likely to act as an immediate support level. Stocks in news: Kridhan Infra, Oil India, NMDC, PSP Projects, HEG, Usha Martin and Yes Bank.

Indian markets are expected to halt their three-day winning streak following the negative lead overnight from the Wall Street and turbulence in the Asian markets. The RBI board meeting ended on a cordial note. The SGX Nifty Index Future has slipped 32 points to 10,749, indicating soft start to the day.  

Going ahead, we expect Nifty to extend its upmove and move towards the zone of 10,710-10,780 as this area is the confluence of its 200-DSMA and the downside gap which was created on October 4 . Stocks in news: Deepak Nitrite, Dr Reddy’s Laboratories, Tata Investment Corporation, SRF, Shalimar Paint, Infosys and Vodafone Idea.

Indian markets are likely to kick-off the week on a cheerful note as cues from the Asian markets are positive. All eyes will be on the critical RBI board meet today which is likely to discuss government demands for easy credit to NBFCs and issues relating to PCA framework. Due to this, stocks of PSU banks and NBFCs could see traction in today’s session. The SGX Nifty Index Future has climbed 56 points to 10,754, indicating a roaring start by the bulls.  

Unless Nifty successfully moves past the hurdle of 10,650, we do not see any significant move in the index. On the downside, immediate support is seen around the level of 10,530, followed by 10,440.  Stocks in news: Venus Remedies, Tata Sponge Iron, SRF, Yes Bank, Lemon Tree, Infosys and Bank of Baroda.

The diminishing prospects of an all-out trade war and the rupee rallies to two-month high to close below 72-mark against the US dollar are a big boost for the Indian markets and thus we could see an optimistic start to the day. The SGX Nifty Index Future has nearly gained 0.38 per cent, suggesting Nifty may open around the level of 10,663.  

Going ahead, it would be important to watch action around the zone of 10,610-10,650. Stocks in news: Tata Power, Dhanuka Agritech, Alkem Laboratories, Apollo Hospital, Hero Motocorp, Oil India, Sundaram Finance and Yes Bank.

India equities may open a tad higher on Thursday, shrugging off negative cues from the US markets overnight and mixed trend prevailing in the Asian markets. The SGX Nifty Index Future, which was up by 30 points, suggests Nifty may open around the level of 10,631. Market participants will be interested in India’s trade balance numbers which are due to be announced today.   
  

It is important for the bulls to clear this major hurdle of 10,610-10,650 or else Nifty will continue to trade in the range of 200-250 points. Stocks in news: ZEEL, Hindalco, Sasken Technologies, Ashok Leyland and PNB Housing Finance.

India equity markets are expected to open with modest gains. The SGX Nifty Index Future, which was up by 35 points, indicates Nifty may open around the level of 10,640. Among Nifty companies, Grasim and Mahindra and Mahindra will report their earnings today.