Watch | Markets@Moneycontrol: Bounceback unlikely on expiry day

Sep 28, 2017 09:01 AM IST | Source:

A quick check on what could trigger the markets today

US President Trump unveils the much-awaited tax plan
– Rupee continues to slide…hits a fresh 6-month low against the dollar

– NITI Aayog says economic downturn has bottomed out

Tracking flat trends from SGX Nifty as well as positive cues from the global markets, the D-Street could witness a mildly green start to the session. But, investors could also be cautious as Thursday is also the F&O expiry day and volatility is likely as traders would roll over their positions in the derivatives market.

Traders are advised to remain cautious and avoid creating fresh long positions as technical indicators point towards 9,685 in the near term. On the other hand, if Nifty sustains above its 100-DEMA, recovery is possible, suggest experts.

Among global markets, Most Asian indexes rose in early Thursday trade, after US equities advanced and the greenback rose following the unveiling of a long-awaited tax reform plan stateside.

Stocks to watch out for
– IDBI Bank sells 9% stake in SIDBI
– Stocks with high delivery percentage: HCL Tech, Kajaria, Godrej Consumer Products, TCS, Wipro, ICICI Bank

– Air India ties up with PNB, IndusInd for Rs 3,250 cr loan

For more, watch the Markets@Moneycontrol show. Moneycontrol Editor Santosh Nair talks to Rakshita Madan on what to expect in the trade today.

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