DSIJ Mindshare

Indian equity markets are likely to make a flat to positive start on Friday with traders eyeing third-quarter corporate earnings results of index heavyweights like HDFC Bank, Reliance, ITC, Wipro, Kotak Mahindra Bank for directional cues. The SGX Nifty indicates that the Nifty could open at 10,823 up by 12 points at the opening bell. 

Nifty has managed to clear its resistance of 10,780. Now, going forward, a follow through move above Wednesday’s high, i.e. 10,803, will brighten the possibility of Nifty touching 10,840. Top stocks in focus today: Yes Bank, Majesco, Axis Bank, Intellect Design Arena, Pitti Laminations, Ashoka Buildcon, Premier Explosives. 

Indian markets are expected to make an optimistic start and the benchmarks are likely to extend northward journey on the back of positive regional cues. The SGX Nifty suggests that the Nifty could open at 10,849, higher by 45 points at the opening bell.  

Going ahead, a follow through move below Tuesday’s session low of 10,687 could lead to further profit-booking, and in which case, the levels of 10,650, followed by 10,600 can be tested. Top stocks in focus today : Varun Beverages, Texmaco Rail and Engineering, Sun Pharma, Symphony, GAIL, Pioneer Distilleries. 

Today, markets are likely to start on a cautious note on the back of sluggish regional cues. The SGX Nifty indicates that the Nifty could open at 10,717, almost flat at the opening bell.