FIRST TRADE: Equities open tad higher; Nifty tops 24,300, Sensex up 41 pts

After a postive adjacent successful the erstwhile day's trade, Indian equities connected the expiry time opened higher marginally. At the start, Nifty topped 24,300 levels, gaining 0.11 per cent oregon 27.8 points, portion the Sensex was up 0.05 per cent oregon 41.24 points astatine 80,275.32.

The momentum remains cautionary contempt the big of  positive factors specified arsenic the sluggish WTI crude prices adjacent $68.75 a barrel, the Dow and S&P 500 adjacent grounds highs, and nett buying by FIIs and DIIs.

However, the US PCE ostentation scale ticked higher, raising concerns. With the November F&O expiry today, volatility whitethorn spike, but abbreviated covering by FIIs could propulsion Nifty supra 24,500, added 

Prashanth Tapse, Senior VP (Research), Mehta Equities

Technicals

Akshay Chinchalkar, Head of Research, Axis Securities said, "The Nifty has traced a bullish harami signifier wrong a three-day scope spanning the 24,125 - 24,350 area. This is simply a precise uncommon occurrence arsenic each of the 3 candles has a akin high-to-low range, with the signifier becoming particularly important station the Monday gap-up.

The contiguous hurdle to show is 24,360, supra which the adjacent absorption sits astir 24,540. Critical enactment lies astatine 24,120, with bears gaining the precocious manus lone connected a regular adjacent beneath 23,956. Unless we person a antagonistic astonishment toward month-end, the November candle is astir apt to extremity with a agelong little shadiness that shows the value of 23,200 arsenic we caput into the last period of the year, helium added.