Indian market is likely to have flat opening with negative bias, as the Asian market is trading lower and US market closed mixed. On Monday, the Indian markets ended on a positive note as BSE Sensex grew 169.70 points to close at 13,965.86 while Nifty gained 57.65 points to close at 4,134.30. We expect the market to remain range bound during the trading session.
Monday, the US markets closed mixed. The Dow Jones Industrial Average (DJI) grew by 20.56 points to close at 13,346.78. The S&P 500 (SPX) index closed lower by 2.70 points at 1,503.15 while the NASDAQ Composite (RIXF) declined by 15.78 points to close at 2,546.44.
Indian ADRs ended mixed. In technology sector, Wipro 1.51% along with Infosys by 1.13%, Satyam 0.97% and Patni computers 0.84%. In banking sector, ICICI bank gained 4.24% whereas HDFC bank dropped 0.96%. VSNL grew 0.18%. In automobile sector, Tata Motors fell 0.79%.
The major stock markets in Asia are trading in negative territory. Hang Seng trading lower by 28.15 points at 20,951.09. Straits Times declined at 3,493.13 down by 7.97 points. Taiwan weighted plunged by 23.41 points to trade at 8,007.15.
Today, Nifty has support at 4,070 and resistance at 4,180 and BSE Sensex has support at 13,720 and resistance at 14,110.
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