DSIJ Mindshare

Indian indices are set for a quiet start this morning as cues from Asia markets are lacklustre for now and as the US markets were closed overnight for holiday. The SGX Nifty indicates Nifty is likely to open flat at 10,957, down by 5 points. Among results to watch include Asian Paint, Havells, HDFC Life, Oberoi Realty and TVS Motor. 

The stocks most likely to witness significant movement on the bourses on January 22, 2019 are IRB Infrastructure, Union Bank of India, L&T, Kotak Mahindra Bank and Lupin.

The stock has given a bounce from the edge of the upward sloping trendline formed by joining swing lows from October 24, 2018. Additionally, the stock formed a sizeable bullish candle which suggests bulls are taking control near the support zone.

The housing finance company HUDCO reported a 27 per cent growth in net profit on a YoY basis. Reacting the results, the stock of HUDCO surged to 10 per cent intraday high on Monday.

On Monday, the United Breweries Limited has given a breakout of ascending triangle pattern. The breakout was supported by volume spurts.