Indian stock markets today are expected to witness a flat opening with a positive bias as signalled by the SGX Nifty. US markets overnight ended flat, with the Nasdaq and S&P 500 ending mildly in the red. The Dow Jones ended flat with a gain of 42 points.
The Sensex ended the session higher by 13 points at 59,846, while the Nifty-50 ended higher by 24 points at 17,624. Nifty Bank witnessed some selling pressure and ended lower by 206 points. “The validity of the bullish pattern stands above 17,300 – 17,250 levels. If in case the frontline index closes below these levels then the gate is wide open till 17,100 – 17,000 levels. On the higher end, resistance is capped at 17,750 – 17,800 levels. A break of that levels will trigger a buy signal towards 18,000 levels or even higher,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors continued their buying spree, lapping up Indian equities worth Rs 893 crore, provisional data from exchanges showed. Flows from DIIs too turned positive as they net bought shares worth Rs 351 crore, provisional data from exchanges showed.
Top stocks to watch today areBank of Baroda, IRB Infra, Fusion MFI, Schaeffler India, besides others.