DSIJ Mindshare

Indian equity benchmarks are expected to witness a mildly positive opening as cues from Asian peers are supportive. However, the bigger question is will the market be able to sustain the initial gains or will it be just a dead cat bounce. The SGX Nifty is indicating that the Nifty could open marginally positive around 10,214 at the opening bell.  

Indian drug major Torrent Pharmaceutical is planning to bid for Sanofi's generic business, Zentiva NV.

The investigation agencies are now probing 31 banks who have lent a sum of around Rs 5,000 crore to Gitanjali Gems.  

Now, going forward, the market could drift to test the daily 200-SMA, which is placed around the level of 10,120. But any bounce-back towards the levels of 10,310 and 10,350 will act as immediate resistance areas for the Nifty. Stocks in the news: Infosys, TCS, Bal Pharma, Ashoka Buildcon, REC, Sadbhav Infrastructure Projects, Dabur, HPL Electric and Power, Avenue Supermarts, Ultratech Cement, ZEEL, Bharti Airtel and Speciality Restaurants.

Indian markets are expected to open flat with a negative bias as cues from global peers are mixed. The SGX Nifty is indicating that the Nifty could open marginally negative around 10,230 at the opening bell. Since Nifty has breached its very crucial level of 10,300, we believe that the undertone of the market has shifted from 'buy on dips' to 'sell on rise'.