Nifty to open below 8680 on weak global cues
Indian benchmark Index Nifty will see a soft opening as we head to the October series F&O expiry. Global cues are weak as seen during overnight selling in US Index S&P, which fell by 17 points from the high of 2149. A number of Nifty stocks came out with their results namely Axis Bank, Kotak Bank and Bharti Airtel. The markets will discount these results in the trading session today. The support for Nifty stands at 8640-8650 and the resistance stands at 8740.
The narrow band might continue as the Diwali holidays and festive mood might lead to lower volumes. Banking stocks in particular are big out performers in recent weeks with ICICI bank going up 18 percent in last few trading sessions. Some correction might be seen in Bank Nifty as it is unable to cross 19800resistance since last two trading sessions. Nifty Futures is expected to open at 8666 as per SGX Nifty at 8:30 am IST, which is 37 points below its previous close of 8703.
Indian benchmark Index Nifty will see a soft opening as we head to the October series F&O expiry. Global cues are weak as seen during overnight selling in US Index S&P, which fell by 17 points from the high of 2149. A number of Nifty stocks came out with their results namely Axis Bank, Kotak Bank and Bharti Airtel. The markets will discount these results in the trading session today. The support for Nifty stands at 8640-8650 and the resistance stands at 8740. 
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