Indian market is likely to open lower today. Yesterday, markets closed firm amid higher volatility on account of selective profit booking in scrips across the sectors. As a result, BSE sensex closed at 12902.63 up by 17.64 points and Nifty was up by 16.60 points to close at 3734.60.The outlook for the market is abundant cautious.
Monday, US markets closed higher on back of fresh concerns over the subprime- lender market and a batch of big mergers. Dow gained 42.30 points to 12,318.62 and the NASDAQ Composite (RIXF) closed up 14.74 points at 2,402.29.
Major Indian ADRs closed in green. In technology sector, Infosys marginally up by 0.44%, Satyam gained 2.79% while Wipro up by 1.31%. Banking sector, ICICI Bank rose 1.05% and HDFC bank gained 0.74%. MTNL slipped 0.32% while VSNL up by 0.42%.
The major stock markets in Asia were trading mixed on Tuesday. Nikkei 225 was down 59.61 points at 17,233.78. Straits Times dropped 12.79 points at 3,169.89 while Taiwan''s Taiwan Weighted gained 0.65% or 49.21 points at 7,678.36. Crude for April delivery dropped 1.9% at $58.91 a barrel.
Today, Nifty has support at 3665 and resistance at 3815 and BSE Sensex has support at 12565 and resistance at 13120. However, it is our advice to watch trading session carefully.
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