Markets Likely to Open Positive Today but Face Resistance Later

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Markets Likely to Open Positive Today but Face Resistance Later

By Aditya Raghunath

Investing.com -- Nifty 50  and the BSE Sensex 30 are likely to open flat to positive today after the Eid holiday on May 13. Nifty 50 Futures in Singapore are trading down 0.29% as of this report which is generally a flat indicator for Indian markets but other factors at play could cause markets to open up.

The markets are expected to react positively to the Index of Industrial Production (IIP) and Consumer Price Index (CPI) that were released on Wednesday after markets shut. IIP rosed 22.4% in March while retail inflation fell to 4.29% in April, the lowest in three months.

Market experts say that the sentiment in markets in bearish thanks to fears of rising inflation. Markets are expected to turn bullish only after a close of over 15,000. Experts say there is support for markets at 14,620 levels. PowerGrid Infrastructure Investment Trust (InvIT) IPO shares are scheduled to be listed today.

Asian and European markets had a tough day yesterday. However, Asian markets are all trading up today after a smart rebound in US stocks. Nikkei 225 , KOSPI 50 and Shanghai Composite are trading up 1.8%, 0.77% and 0.97% at the time of this report.

US futures are all trading up with Dow Jones 30 Futures , S&P 500 Futures and Nasdaq 100 Futures up 0.23%, 0.36% and 0.56% respectively.

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  • Maulik Patodiya @Maulik Patodiya
    Sir, If US futures trading high then is there any possibilities that indian market come down again?
    Like 0
    • kenil gala @kenil gala
      no chance
      Like 0
    • kenil gala @kenil gala
      no chance
      Like 0
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

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      Drop an image here or

      100
  • Maulik Patodiya @Maulik Patodiya
    Sir, If US futures trading high then is there any possibilities that indian market come down again?
    Like 2

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