Pre-market: Stocks to watch out for today

Futures expiry on Thursday may add to market volatility

The markets are likely to trade in a narrow range in the absence of any major global cues, and ahead of the F&O expiry for the December series due Thursday.

In Japan, Nikkei opened 0.5 per cent higher at 10,131 on Wednesday.

Back home, the NSE Nifty seems to be struggling around the short-term Daily Moving Average on the charts. The bears are likely to have the upper-hand as long as the index trades below 5,890. On the downside, the index can slip 5,750-odd levels.

The momentum oscillators continue to remain in favour of the bears hence aggressive buying at these levels should be avoided, technical analysts suggest.

Among individual stocks, keep a tab on Kingfisher Airlines. The airline has submitted an interim revival plan to the Directorate General of Civil Aviation for limited resumption of its operations with a funding of Rs 652 crore.

J K Tyres could react to the Rs 476.5 crore expansion plans at its Mysore plant in Karnataka.

One of the promoters of IndusInd Bank – IndusInd International Holdings – on Monday offloaded 4.6 million shares of the private sector lender for about Rs 196 crore through open market transaction.

Ranbaxy’s generic version of Lipitor, which faced recall from the US market last month, could remain missing at the beginning of 2013, if the company fails to resume supplies of the drug by the end of December. This could see the stock come back in focus today.