Bank Nifty futures currently witnessing selling pressure from its resistance zone i.e trend line and golden ratio in hourly chart as shown in above graph, technical indicates intraday we can see some selling pressure in Bank Nifty futures as long as it holds below its resistance zone but once it starts trading above then further price rise action can be seen intraday. Visit our site for more stock market intraday tips.
Stock market likely to open flat, stock to close watch today is Kotak Bank on its quarter 4 numbers. So far stock markets has posted a very good start for the month of May bulls are in action as all major Indian Index closed higher with a gap up in EOD charts. But for today SGX Nifty is indicating a flat to down side indication (-17pts).
On the result point of view key stocks to watch out for are Kotak Mahindra Bank , South Indian Bank, Dabur, Century Textiles and Muthoot Finance that will declare its Q4 earnings today.
On global front foreign stock markets are trading with low volumes so far as Japanese, Thailand and South Korean market are shut today.
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