Year-end holidays and US fiscal cliff worries are the two major factors that will definitely have its impact on the Indian Stock Market. The day’s trading will be marked by thin volumes, directionless trading and sideways movements of the indices. In the absence of any major global cues, and ahead of the F&O expiry for the December series due on Thursday, bears are likely to have the upper-hand.
Asian markets have opened on a mixed note today. Japan's Nikkei 225 index was trading 0.4 per cent higher while China's Shanghai index was trading 0.03 per cent lower. Thus, Indian markets is expected to open soft on Wednesday tracking muted Asian markets, while investors will keep a close eye on CARE which will make its debut on bourses later today. Credit rating agency, CARE has fixed the issue price at higher end of price band of Rs 700-750 per share.
As far as technical charts are concerned, NSE Nifty seems to be struggling around the short-term Daily Moving Average on the charts. The bears are likely to have the upper-hand as long as the index trades below 5890. On the downside, the index can slip 5750-odd levels. Momentum oscillators continue to remain in favour of the bears hence aggressive buying at these levels should be avoided.
Stocks that are most likely to be in action today, includes, ONGC, Reliance Industries, Tata Motors, Kingfisher Airlines and IndusInd Bank.
Asian markets have opened on a mixed note today. Japan's Nikkei 225 index was trading 0.4 per cent higher while China's Shanghai index was trading 0.03 per cent lower. Thus, Indian markets is expected to open soft on Wednesday tracking muted Asian markets, while investors will keep a close eye on CARE which will make its debut on bourses later today. Credit rating agency, CARE has fixed the issue price at higher end of price band of Rs 700-750 per share.
As far as technical charts are concerned, NSE Nifty seems to be struggling around the short-term Daily Moving Average on the charts. The bears are likely to have the upper-hand as long as the index trades below 5890. On the downside, the index can slip 5750-odd levels. Momentum oscillators continue to remain in favour of the bears hence aggressive buying at these levels should be avoided.
Stocks that are most likely to be in action today, includes, ONGC, Reliance Industries, Tata Motors, Kingfisher Airlines and IndusInd Bank.
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