Indian stock markets today are expected to witness a positive opening as signalled by the SGX Nifty. US markets on Friday ended largely in the green, whereas markets in Asia remained positive too. Back home, both Sensex and Nifty ended the session flat on Friday.
The Sensex ended mildly in the green at 59,655, up 22 points. The Nifty-50 ended flat with a negative bias at 17,624. “The validity of the bullish pattern stands above the 17,500–17,400 levels, if in case the frontline index closes below these levels then the gate is wide open till the 17,200 levels. On the higher end, Resistance is capped at 17,850 levels. A break of that levels will trigger a further momentum towards 18,000 levels or even higher,” said Rohan Patil of SAMCO Securities.
FIIs (Foreign Institutional Investors) remained net sellers for the fifth straight session as they sold shares worth Rs 2,116 crore in the cash markets on Friday, provisional data available on exchanges showed. On the other hand, flows from DIIs remained positive as they bought shares worth Rs 1,632 crore, provisional data from exchanges showed.
Top stocks to watch today are Reliance Industries, ICICI Bank, Yes Bank, Macrotech Developers, HDFC Bank.