Indian benchmark indices are expected to extend gains on Monday amid strong global cues. In the previous session, BSE Sensex soared 1,181.34 points or 1.95% to end at 61,795.04, while the broader NSE Nifty gained 321.50 pts or 1.78% to 18,349.70. “Going forward, market is expected to maintain the momentum as peeking out of US inflation has raised the hopes of slowdown in the pace interest rate hike by the US Fed. The strong recovery in market on Friday has increased the probability of Nifty moving towards its all-time high of 18,600 zone,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Things to know before share market opening bell

Global market watch: Hong Kong’s benchmark index popped at open as Asia-Pacific markets were mixed after closing the previous week with a big rally. The Hang Seng index in Hong Kong jumped 3% at open and was last up 2.37%. In mainland China, the Shanghai Composite added 0.51%. Japan’s Nikkei 225 fell 0.44% in early trade. South Korea’s Kospi was flat. Over in the US, the S&P 500 and Nasdaq ended sharply higher on Friday. The Nasdaq gained 1.88%, while Dow Jones Industrial Average rose 0.10%, and S&P 500 climbed 0.93%.

Nifty technical view: “A long bull candle was formed on the daily chart with huge unfilled opening upside gap. Nifty has decisively closed above the key hurdle of 18150 levels and also placed at the edge of moving above another resistance of 18350 levels. This is a positive indication and one may expect further upside in the near term. Nifty on the weekly chart formed a reasonable bull candle with long lower shadow. The Nifty decisively crossed above the important resistance of previous top at 18150 levels as per weekly timeframe chart. Hence, further upside is likely from here and one may expect new all-time high above 18600 levels in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Key levels to watch for: Key The maximum call open interest was seen accumulated at the strike price of 19,000, with 1.9 lakh contracts, and the next highest at 18,500, with almost 99,000 contracts, according to provisional exchange data. The maximum put open interest is at 18,000, with 1.5 lakh contracts, and at 18,300, with 1.2 lakh contracts. This suggests Nifty immediate resistance at 18,500 and a strong base at the 18,000 mark. For Bank Nifty, The crucial support is placed at 41,970, followed by 41,869. On the upside, key resistance levels are placed at 42,297, followed by 42,398.

FII and DII data: Foreign institutional investors (FIIs) bought shares worth Rs 3,958.23 crore, while domestic institutional investors (DIIs) bought equities worth Rs 615.54 crore on November 11, according to the provisional data available on the NSE.

Stocks under F&O ban on NSE: The NSE has added Gujarat Narmada Valley Fertilizers and Chemicals, and retained Punjab National Bank (PNB) under its F&O ban list for November 14.

IPO watch: Mumbai-based realty firm Keystone Realtors will hit the capital market today to raise funds through its IPO. The company which sells properties under the brand ‘Rustomjee’, has proposed to raise Rs 635 crore through the IPO, which consists of a fresh issue of equity shares aggregating up to Rs 560 crore and an Offer-for-sale (OFS) worth Rs 75 crore by promoters. The price band has been fixed at Rs 514-541 a share. The issue will conclude on November 16. Ahead of the IPO, the company has decided to allot 35.21 lakh equity shares to 16 anchor investors at Rs 541 apiece, taking the transaction size to Rs 190.5 crore.

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Q2 results on November 14: ONGC, Grasim Industries, Biocon, Bharat Forge, Apollo Tyres, IRCTC, Aarti Industries, Abbott India, Ahluwalia Contracts, Aarey Drugs & Pharmaceuticals, Balkrishna Industries, BGR Energy Systems, Birla Tyres, CESC, Dilip Buildcon, Godrej Industries, Greaves Cotton, HUDCO, Indiabulls Housing Finance, Jyothy Labs, Linde India, Lux Industries, Mindspace Business Parks REIT, NBCC (India), Radico Khaitan, Sobha, and SpiceJet will report their September FY23 quarter earnings on November 14.