The Indian market is likely to have flat opening. The Asian market is trading higher and US market closed mixed. On Monday, the Indian markets ended in a positive territory as BSE Sensex closed higher by 115.19 points at 14,418.60 while Nifty closed up by 46.4 points at 4,260.90. We expect the market to remain range bound during the day.
Monday, the US markets closed in mixed. The Dow Jones Industrial Average (DJI) declined by 13.65 points to close at 13,542.88. The S&P 500 (SPX) index closed marginally higher by 2.35 points at 1,525.10 while the NASDAQ Composite (RIXF) closed up by 11.22 points at 2,578.79.
Indian ADRs closed in mixed. In technology sector, Patni computers surged by 4.03% while Wipro lost by 1.32% and Infosys by 0.85%. In banking sector, HDFC bank surged by 4.93% while ICICI bank declined by 0.33%. VSNL grew by 1.49% while MTNL declined by 0.13%. In automobile sector, Tata Motors declined by 2.62%. In Pharma sector, Dr Reddy''s lab gained 0.67%.
The major stock markets in Asia are trading in positive. Japan''s Nikkei trading higher by 105.10 points at 17,661.97. Straits Times gained 24.97 points to trade at 3,539.46. Taiwan weighted trading at 8,193.66 up by 52.07 points.
Today, Nifty has support at 4,200 and resistance at 4,300 and BSE Sensex has support at 14,210 and resistance at 14,550.
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