Pre market: 4 stocks to watch out for today

Markets likely to trade volatile in the holiday shortened week

It will be a holiday shortened volatile week for the markets across the globe, including India as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the US economy into recession.

Back home, the NSE Nifty after raising hopes of a likely year-end rally, has failed to live-up to the expectations and now in fact slipped below its short-term moving average.

Select momentum oscillators like the M-A-C-D and the 14-day RSI have shown a negative divergence on the daily charts. The Nifty is now likely to face considerable resistance around 5,910, while on the downside it can drop to 5,750-odd levels, technical analysts suggest.

Financial markets in Japan, Indonesia and the Philippines are closed on Monday for public holidays.

Among individual stocks, the government has approved fund infusion of Rs 3,004 crore in SBI during the current fiscal to boost the bank's capital base.

After foraying into tier-2 cities with residential projects, real estate developer Ansal API is now gearing up to enter the hospitality segment in small cities.

Ashok Leyland could also be in the limelight today on reports that Optare Plc, the its UK-based bus manufacturing unit, has seen profit in the September quarter after the company initiated a major turnaround plan this year.

The Miglanis of Uttam Galva Steel, co-promoted by ArcelorMittal, are under the radar of the income-tax authorities, reports suggest.