Indian stock markets today are likely to witness a muted opening as signalled by the SGX Nifty. US markets overnight Back home, both Sensex and Nifty ended the session higher on Monday backed by strong flows from both foreign and domestic institutional investors.
The Sensex ended higher by 709 points at 61,764, while the Nifty ended higher by 195 points at 18,264 on Monday. “The overall trend is positive as prices are trading above the breakout levels of inverted head and shoulder patterns. The support for the Nifty is placed at around 18,050 – 18,000 levels and resistance is capped at 18,500 levels. In case the Nifty breaches below 18,000 levels than 17,800 will be the next support zone,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors continued to add Indian equities for the eighth straight session on Monday. According to data available on exchanges, FIIs bought shares worth Rs 2,123 crore in the cash markets, against Rs 777 crore worth of shares bought in Friday’s trading session. On the other hand, flows from DIIs too remained positive as they bought shares worth Rs 245 crore, provisional data from exchanges showed.
Top stocks to watch today are Pidilite Industries, Mahanagar Gas, Nerolac Paints, Aarti Industries, besides others.
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