Today, the start of the fresh week is likely to be cheerful one, despite the Asian markets trading on a mixed note. Positive trends in the SGX Nifty Index Future which was trading at 10,103, up by 56 points, also indicated a positive start for the local bourses. On the earnings front, big names like Bharat Petroleum Corporation, HDFC Asset Management Company, Tata Power, Century Textiles and Industries, Colgate Palmolive, LIC Housing Finance, Union Bank of India, will release their results today. 

Going ahead, the level of 10,079 is likely to act as an immediate support level for the Nifty and the selling pressure is likely to intensify once the index breaks this support zone, and in that case, Nifty may test the level of 9952. Stocks in news: IDFC Bank, Jubilant Industries, Kridhan Infra and Tata Teleservices.

Indian shares are likely to open the final trading session of the week marginally lower as cues from Asian peers are mixed and investors look forward to another batch of corporate earnings. Among Nifty 50 companies, ICICI Bank, ITC, UPL and Dr Reddy’s Lab are unveiling their quarterly earning numbers today. The SGX Nifty is trading lower by 30 points at the level of 10,152.  
  

On the downside, the zone of 10,012-10,126 is likely to act as a crucial support level for the Nifty and it needs to hold above this zone to avoid fresh weakness creeping in. But failure to hold this support level would open up further correction up to the level of 9952, which is the low registered in the month of March. Stocks in news: Tata Steel, Tata Chemicals, Kilitch Drugs and Jet Airways.

Indian stocks are likely to witness a gap-down opening as the leads from Asian peers and the Wall Street are disappointing. The Dow closed at its three-month lows in overnight trading and gave away year-to-date gains. Talking about Indian markets, volatility will remain embedded in the markets owing to the expiry of the October derivative series. The SGX Nifty is trading with a loss of over 100 points and indicates Nifty may open around the level of 10,136. Among Nifty 50 companies, Bharti Airtel, Maruti Suzuki, Yes Bank and JSW Steel will be announcing their quarterly earnings today.  

A move beyond 10,220 would provide a relief rally up to the level of 10,280, followed by 10,340. The 14-period RSI on the daily time frame shows bullish divergence against the price. Stocks in news: Bharti Airtel, Laurus Labs, Salzer Electronics, Sun Pharma, Shalby and DCM Shriram.

Much to our delight, it seems that the Indian markets may witness a positive opening on Wednesday. As the saying goes, someone’s loss is always another’s gain and the sharp fall in crude oil prices is certainly a big positive for the Indian markets. Too much supply combined with demand concerns led to a sharp drop in crude oil prices on Tuesday. The SGX Nifty is trading up by 66 points and indicates that Nifty may open around the level of 10,238. Among Nifty 50 companies, Bajaj Auto, Bharti Infratel, Kotak Mahindra Bank and Wipro will declare their quarterly earnings today.  

The opening on Tuesday and the path that the Nifty takes post opening would be crucial as the levels of 10,138-10,200 would be extremely vital to watch out in the event of any vulnerability. Stocks in news: HFCL, ITD Cementation India, Rural Electrification Corporation, Digjam, Syndicate Bank, BHEL and Orient Press.

The SGX Nifty is trading down by almost 86 points and that could have an impact on the Indian markets even as the Asian peers are deep in the red. The SGX Nifty indicates Nifty may open with deep cut of almost 0.88 per cent around the level of 10,162.50. Among Nifty 50 companies, Adani Ports, Bajaj Finserv, Bajaj Finance and HCL Technologies will report their earnings today.  

On the upside, the gap area which has been created on the October 19, 2018, is likely to act as a resistance zone (10,380-10,436). Stocks in news: Biocon, Lupin, Piramal Enterprises, Reliance Power, Tata Steel and Jet Airways.