Today, the markets are likely to make an optimistic start following firm global cues. Also, traders will be getting support from the report that net direct tax collection in the April-Feb period of 2017-18 showed a whopping 19.5% growth from the year ago period to Rs 744,000 crore. The SGX Nifty is indicating that the Nifty could open with gains of 40 points around 10,278 at the opening bell.  

Going ahead, the level of 10,120-10,140 will act as an immediate support zone for the Nifty. However, a decisive breach of this zone may lead to further weakness, in which case it may test the low of 10,075 reached during the panic of Gujarat election results. Stocks in the news: Cadila Healthcare, SBI, Hero Motocorp, Pidilite Industries, Nitco, Torrent Power, Marico, Coal India, Stride Shasun, JSW Steel, Sanghi Industries, Gayatri Projects and Bharti Airtel.

Indian equity benchmarks are expected to witness a mildly positive opening as cues from Asian peers are supportive. However, the bigger question is will the market be able to sustain the initial gains or will it be just a dead cat bounce. The SGX Nifty is indicating that the Nifty could open marginally positive around 10,214 at the opening bell.  

Now, going forward, the market could drift to test the daily 200-SMA, which is placed around the level of 10,120. But any bounce-back towards the levels of 10,310 and 10,350 will act as immediate resistance areas for the Nifty. Stocks in the news: Infosys, TCS, Bal Pharma, Ashoka Buildcon, REC, Sadbhav Infrastructure Projects, Dabur, HPL Electric and Power, Avenue Supermarts, Ultratech Cement, ZEEL, Bharti Airtel and Speciality Restaurants.

Indian markets are expected to open flat with a negative bias as cues from global peers are mixed. The SGX Nifty is indicating that the Nifty could open marginally negative around 10,230 at the opening bell. Since Nifty has breached its very crucial level of 10,300, we believe that the undertone of the market has shifted from 'buy on dips' to 'sell on rise'.  

Indian markets are likely to witness a positive opening as cues from global peers are supportive. The SGX Nifty is indicating that the Nifty could open higher by 39 points around 10,399 at the opening bell.  

Going ahead, the zone of 10,270-10,300 is very crucial for the Nifty and a decisive breach of this support zone may trigger a sell-off which may drag the market up to the levels of 10,200-10,080 in the near term. On the upside, the gap area of March 5, 2018 (10,429-10,447) will play out as the resistance area. Stocks in the news: Infosys, Prime Focus, Mahindra and Mahindra, Wanbury, JSW Energy, Reliance Industries, Somany Ceramics, HDFC, Ramco Cements and Reliance Infra.

We may see Nifty testing its major support zone of 10,270-10,300 in the coming trading sessions. Stocks in the news: Jubilant Lifesciences, PNB, NMDC, Wipro, Poly Medicure, HCL Infosystems, Fortis Healthcare, Laurus Labs, JBM Auto, Dilip Buildcon, Allahabad Bank and Reliance Infrastructure.

After a long holiday weekend, Indian equity benchmarks are likely to react on Monday to the import duties imposed by the US on steel and aluminium. The big overhang will be the possibility of a full-fledged retaliatory trade and currency war. The SGX Nifty is indicating that the Nifty could open around 10,345 at the opening bell.  The ruling NDA put up a stellar show in the North-East assembly elections.

For the day, important supports are seen around the levels of 10,450, followed by 10,400 and, on the upside, the levels of 10,560 followed by 10,640 will offer stiff resistance. Stocks in the news: Dilip Buildcon, Xpro India, Dynamatic Technologies, Reliance Power, Tata Power, HCL Infosystems, SH Kelkar, MOIL and Canara Bank.