Indian market is likely to open on positive note today. On Thursday 25 January 2007, market closed higher mainly on back of heavy buying seen in Metal and capital goods stocks. As a result BSE sensex closed at 14,282.70 up by 172.20 points and Nifty was up by 57.80 points to close at 4147.70. Today major quarterly results are SAIL, L&T, BPCL, Indian Oil Corporation and Tata Power. The outlook for the market is continued optimism with little bit volatility.
US market closed mixed on Friday on concerns that strong economic reports will hurt chances for an interest-rate cut. DOW fell 15.54 points to close at 12487.02 while NASDAQ was marginally up by 1.25 points to close at 2435.49.
The major stock markets in Asia opened mixed on Monday. Nikkei 225 index and Straits Times were up by 0.2% and 0.8% respectively. Oil price closed above $55 a barrel.
Today, Nifty has support at 4107 and resistance at 4,185 and BSE Sensex has support at 14,120 and resistance at 14,520. However, it is our advice to watch trading session carefully.
FIIs were net purchasers to the tune of Rs172.70crores on 25th January 2007. Mutual Funds were net sellers to the tune of Rs251.07 crores on 24th January 2007.
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