Pre Open Market Commentary

Market is likely to open firm today. Yesterday, markets ended lower on back of heavy selling pressure seen across index pivotals. As a result, BSE sensex closed at 13,362.20 down by 204.10 points and Nifty was down by 61.10 points to close at 3,850.30. Today market outlook will be determined by the Infosys result. Though a corrective pullback may not be ruled out in the absolute near term. US market closed in green on Wednesday. DOW was up by 25.56 points to close at 12442.16 and NASDAQ was up by 15.50 points to close at 2459.33. Asian markets were trading in positive territory on Thursday. Nikkei 225 index was adding 42.56 points to 16,984.96, Singapore''s Straits Times Index was trading at 2,983.75, up 22.60 points and KOSPI Index was up 17.74 points to 1,373.53. Oil price closed below $55 a barrel. Nifty has support at 3,815 and resistance at 3,895 and BSE Sensex has support at 13,220 and resistance at 13,585. However, it is our advice to watch trading session carefully. FIIs were net sellers to the tune of Rs 797 crore on Wednesday 10th January 2007.