Indian market is likely to open on cautious note today. Yesterday, market ended lower on back of profit booking in scrips across the index pivotals. BSE sensex closed at 14253.38 down by 149.52 points while Nifty was down by 57.60 points to close at 4106.95. The outlook for the market is cautious on back of F&O expiry week.
Tuesday, US markets closed in green on back of reassuring comments from Federal Reserve Governor Susan Bies, along with upbeat results from Wal-Mart Stores Inc. and merger news. DOW ended up 19.07 points at 12786.64 and NASDAQ was 16.73 points up to close at 2513.04.
The major stock markets in Asia are trading mixed on Wednesday. Nikkei 225 index was trading flat at 17937.74. Hang Seng was up by 0.2% and Straits Times was up 1%. Oil prices fell as much as 22 cents to $58.63 a barrel.
Today, Nifty has support at 4,075 and resistance at 4,155 and BSE Sensex has support at 14,035 and resistance at 14,350. However, it is our advice to watch trading session carefully.
FIIs were net buyers to the tune of Rs220.20crores in equity (provisional) on 20th February 2007. Mutual funds were net purchasers to the tune of Rs130.77crores in equity (provisional) on 19th February 2007.
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