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Indian stock market is likely to start the day on a flat note. US CPI data for November is likely to arrive today. The US central bank is expected to announce an interest rate hike the following day. India’s industrial production fell 4% in October. These factors may cause fluctuations in the market in the next half day.
The US market ended in the green yesterday. The Dow Jones ended up 1.58%. The NYSE Composite ended up 1.16%. The S&P 500 ended up 1.43%. The Nasdaq ended up 1.26%. The increase in the US market yesterday, indicates a very good possibility that the US Federal Reserve may lower its interest rate, when it announces on Thursday.
Asian markets opened in the green today. Japan’s Nikkei rose 0.34%. Korea KOSPI rose 0.090%. The Taiwan index rose .073%. The Shanghai index rose 0.17%. The ASX index rose 0.22%.
The Indian stock market ended the same day yesterday. Nifty 50 ended, up 0.55 points. Sensex ended, down 51.10 points. Top earners are BPCL, Divi’s Lab and Coal India. The top losers were Asian Paint, Infosys and Kotak Bank.
Technical view: Nifty is likely to find support at around 18350.18750 is likely to act as resistance. Bank Nifty is likely to find support at around 42800. 44000 is likely to act as resistance to the upside.
Trading call (1-2 days): Buy Tata Motors December Future at 416-419. Stop loss: 409.15. Target: 426.
Derivative call-time period: (1 month): Buy Tata Power December future at 218.5-220.5. Stop loss: 215.10. Target: 225.
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