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.

Indian equity benchmarks are expected to open significantly lower given on the back of weakness across the global markets. The SGX Nifty is indicating that the Nifty could open lower by 65 points around 10,454 at the opening bell.  

Going ahead, the level of 10,500 followed by 10,430 is a crucial support for the index. Top stocks to watch out today: Spice Mobility, Kridhan Infra, ABC India, Indiabulls Housing Finance, Cipla, DLF, HDFC, Larsen and Toubro Infotech, Sadbhav Infrastructure, Bharat Forge, Atlas Cycle and Sona Koyo.

Indian markets are expected to open lower as leads from the global markets are weak. The SGX Nifty is indicating that the Nifty could open down by 58 points around 10,504 at the opening bell. A slew of key data,  including Nikkei Indian Manufacturing PMI for February and GDP numbers, are going to be released today and traders will keep a close watch on these.  

Nifty is approaching towards the key resistance zone of 10,630-10,645; as previously this zone had offered strong resistance to the index and led to the decline in the index. Top stocks to watch out today: Simbhaoli Sugars, PNB, Jain Irrigation Systems, Mahindra and Mahindra, ACC, HDFC Bank, Sagar Cement and Indiabulls Real Estate.

We expect markets to extend their jubilant run on Tuesday as cues from the global markets are supportive. However, Nifty may face resistance around the level of 10,640. The SGX Nifty is indicating that the Nifty could open higher by 35 points around 10,633 at the opening bell.  

Going ahead, immediate resistance for the Nifty is placed around the level of 10,560, which is its 50-day EMA, and a decisive move above this level would pave the way for a move towards the levels of 10,600-10,650. Top stocks to watch today: ICICI Lombard, Dr Reddy’s Lab, A2z Infra Engineering, PNB, Welspun Enterprises, Idea Cellular, DCM Shriram, Sadbhav Infrastructure, Dena Bank, Sakuma Exports, Reliance Power and Bharti Airtel.

Indian shares look set to kick off the week on a positive note, mirroring firm cues from global markets. The SGX Nifty suggesting that the Nifty could open higher by 45 points around 10,549.50 at the opening bell.