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The stock markets are expected to continue their northward journey on Friday after a smooth ending of the April derivatives series on Thursday.
Global cues are positive. The US markets were up on Thursday, with the Dow closing 0.17 per cent higher at 14,700 points while the Nasdaq gained 0.62 per cent to 3299.
German shares were up nearly 1 percent while the FTSE gained 0.17 per cent.
Asia is trading mixed this morning. While Japan is trading flat, Hong Kong is up nearly 1 percent and Singapore is trading 0.32 percent higher.
The Nifty is now nearing the higher end of the resistance zone, which is 5,850-5,950. One should watch 5,890-level closely, as sustained trade below 5,890 could trigger a correction.
On Friday, the Nifty is likely to seek support around 5,890-5,870, while face resistance around 5,945-5,960.
Banking and finance shares will remain in the limelight as the market is building up hopes of a rate cut in RBI policy next week. Aviation stocks will also see interest as the market digests the impact of the Jet-Etihad deal.
Hero MotoCorp, ICICI Bank , Maruti, Hindustan Unilever and Sterlite will all be announcing their results today.
Among individual stocks, Jet Airways and other aviation stocks will be in focus after Abu Dhabi-based Etihad Airways picked up a 24 per cent stake in the country’s second-largest domestic airline for Rs 2,054 crore.
