Sensex, Nifty likely to open flat with a positive bias

Indian stock markets today are expected to witness a flat opening with a positive bias as signalled by the SGX Nifty.

Indian stock markets today are expected to witness a flat opening with a positive bias as signalled by the SGX Nifty. At 6:45 AM, the SGX Nifty was up 10 points. On Tuesday, Dow Jones & S&P 500 and Nasdaq ended the session in the red.  

The Sensex on Tuesday ended 40 points lower at 57,613, while the Nifty ended at 16,951, down 34 points. The Nifty Bank ended at 39,567, up 136 points. “The short-term trend for the Nifty is expected to remain down unless Nifty surpasses the 17,200 resistance. Only a sustained close above the 17,200 zones is likely to trigger bullish momentum toward 17,350 – 17,400 levels,” said Rohan Patil of SAMCO Securities.
Key Levels to track for Nifty today are 16,800-16,850 on the downside, whereas on the upside, the resistance for Nifty today largely stands at 17,100.
Foreign Institutional Investors in a surprise move on Tuesday turned net buyers of Indian equities after 4 straight sessions of heavy selling. FIIs were net buyers to the tune of Rs 1,531 crore in the cash markets today, provisional data from exchanges showed.   Domestic Institutional Investors on the other hand, turned net sellers of Indian equities on Tuesday, selling shares worth Rs 156 crore, provisional data showed.
Stocks to watch today are Vedanta, Zydus Life, Jindal Stainless, NBCC, GR Infra, besides others.