Pre Open Market Commentary

Indian market is likely to have a cautious opening as the US and Asian markets are flat with positive bias. On Friday, the Indian markets closed in red, as BSE Sensex closed at 13,285.93 dropped by 22.10 points and Nifty declined 14.85 points to close at 3,861.05.The outlook for the market is cautious on account of F&O expiry week.Friday, US markets closed flat, as investors lacked significant data to support a week of sizable gains. The Dow Jones Industrial Average (DJI) gained 19.87 points to close at 12,481.01. The S&P 500 (SPX) index surged 1.57 points to close at 1,436.11, and the NASDAQ Composite (RIXF) fell by 2.81 points to close at 2,448.93. Major Indian ADRs closed in red except three. In technology sector, Infosys fell by 1.25%, Satyam edged up 0.04% and Wipro gained 0.78%. Banking sector, ICICI Bank closed up by 1.09% and HDFC bank declined by 0.16%. MTNL dropped 0.15% and VSNL fell by 3.52%.Asian market was trading mixed. Japan''s Nikkei down 0.06% to trade at 17,470.13, Heng Seng rose 0.10% 19,711.35 and Straits Times up 0.08% to trade at 3,208.36. Today, Nifty has support at 3,780 and resistance at 3,950 and BSE Sensex has support at 13,000 and resistance at 13,500.