For Nifty, the 19,800 level is critical. If the index breaks below the level, the sentiment will turn bearish, intensifying selling. If Nifty sustains it, the positive trend may resume, said an analyst. 
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For Nifty, the 19,800 level is critical. If the index breaks below the level, the sentiment will turn bearish, intensifying selling. If Nifty sustains it, the positive trend may resume, said an analyst. Indian benchmark indices are likely to open flat on Friday, after a choppy trading session on Thursday. Asian stocks were tumbling in the early trade, tracking a fall in US stocks overnight. Back home, IT majors will be in focus after Q2 earnings. Here's what you should know before the Opening Bell: Nifty outlook VLA Ambala of Stock Market Today said Nifty fell below 19,800 and that the prevailing levels are critical. Intraday support levels for Nifty are at 19,755, 19,700, 19,640, and 19,605, which provide a buying opportunity for those looking to 'Buy on Dips' if weakness is observed in the price, she said. The next potential resistance points for Nifty50 could be at 19,870, 19,948, and 19,980, Ambala added. Nifty Bank outlook Kunal Shah, Senior Technical & Derivative analyst at LKP Securities said that the Nifty Bank is in its consolidation phase, with resistance at 44,700 and support at 44,400. "The overall market sentiment remains bullish, and any dips should be considered as opportunities to initiate fresh long positions. The target is 45,000, where the highest open interest exists on the call side," he said. GIFT Nifty signals a flat start Nifty futures on the NSE International Exchange traded 12 points, or 0.06 per cent, higher at 19,687, hinting at a flattish start for the domestic market on Friday. Asian shares rally at open Asian shares dropped on Friday as investors digest the market and policy implications of this week's US inflation figures with focus turns to Chinese producer and consumer price inflation. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.86 per cent. Japan's Nikkei shed 0.15 per cent; Australia's ASX 200 dropped 0.28 per cent; New Zealand's DJ declined 0.69 per cent; China's Shanghai tanked 0.62 per cent; Hong Kong's Hang Seng tumbled 1.51 per cent; South Korea's Kospi fell 0.67 per cent. Oil prices nudge higher Oil prices rose on Friday after the US tightened its sanctions programme against Russian crude exports, raising supply concerns in an already tight market, and global inventories are forecast to decline through the fourth quarter. Brent futures rose 36 cents, or 0.4 per cent, to $86.36 per barrel and US West Texas Intermediate (WTI) crude gained 53 cents, or 0.6 per cent, to $83.44 a barrel at 0052 GMT. Dollar holds on to gains The dollar remained firm on Friday, putting pressure across a basket of currencies as stronger-than-expected US consumer inflation revived prospects that the Federal Reserve will have to keep rates higher for longer. The dollar index sat at 106.49 in the Asian morning. The euro ticked up nearly 0.1 per cent to $1.0536 after taking a tumble overnight against the dollar, while the sterling was last trading at $1.21885. The yen slid back, last at 149.75 per dollar. US stocks fall as treasury yields rise Wall Street's main indexes closed lower on Thursday after a US Treasury auction sent bond yields higher while investors were already digesting data that showed consumer prices rose more than anticipated in September. The Dow Jones Industrial Average fell 173.73 points, or 0.51 per cent, to 33,631.14, the S&P 500 lost 27.34 points, or 0.62 per cent, to 4,349.61 and the Nasdaq Composite dropped 85.46 points, or 0.63 per cent, to 13,574.22. Q2 results today HDFC Life Insurance Company, Sai Silks (Kalamandir), Tata Steel Long Products, Som Distilleries & Breweries, Den Networks, Artson Engineering, Aditya Birla Money, Amal and Coromandel Engineering Company are among the companies which announced their earnings for the quarter ended on September 2023. Stocks in F&O ban list As many as 10 stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Friday, October 13. New entrants including Bharat Heavy Electricals (BHEL), Delta Corp and Sun TV Network will join the retentions like L&T Finance Holdings, Indiabulls Housing Finance, Punjab National Bank, Manappuram Finance Balrampur Chini Mills, Hindustan Copper and India Cements. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under bad in the F&O segment. FPIs sell shares worth Rs 1,863 crore Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of Rs 1,862.57 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 1,532.08 crore. Rupee falls 6 paise against dollar The rupee paused its two days of gains and settled 6 paise lower at 83.24 against the US dollar on Thursday as rising crude oil prices dented the investor sentiment. Forex analysts said early gains in the domestic currency on the back of the weak dollar were reversed by the subdued domestic equity markets and concerns over foreign funds withdrawal. Note: With inputs from PTI, Reuters and other agencies
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