DSIJ Mindshare

The benchmark index BSE Sensex dipped around 350 points and was down close to a per cent on Friday replicating the global markets. The US market, Asian indices all closed red on Thursday.

The Company has received a LoA from the drinking water corporation of Andhra Pradesh government. The work involves construction of water supply projects in Guntur District.

We expect the December 17 gap area of 10,845-10,816 to act as an important support level. Stocks in news: Indian Hume Pipe, BOSCH, Power Finance Corporation, Bharti Airtel, NHPC, ENIL and Mercator.

Indian indices are likely to open lower on Friday, following the overnight rout on Wall Street. In the recent past, Indian equity markets have showed remarkable resilience compared to its peers and has maintained its momentum. However, ahead of the Christmas holiday season, we suggest traders to remain light on the markets and focus on stock-specific approach. The SGX Nifty indicates Nifty may open around the level of 10,962, down by 0.29 per cent.  
  

SBI Life gets picked up by our Bollinger Band Squeeze scanner, suggesting that a consolidation breakout is expected in the near term. The Bollinger Band Squeeze occurs when volatility falls to low levels and the Bollinger Bands narrow. A volatility contraction or narrowing of the bands can foreshadow a significant advance or decline.