Indian market is likely to have a flat opening, as the Asian market is trading lower. On Tuesday, the Indian markets ended in positive, as BSE Sensex closed at 14,508.21 up by 110.32 points whereas Nifty gained by 36.7 points to close at 4,293.25. We expect the market to remain range bound during the day.
Tuesday, the US markets closed in green. The Dow Jones Industrial Average (DJI) closed higher by 14.06 points at 13,521.34. The S&P 500 (SPX) index closed up by 2.38 points at 1,518.11 while the NASDAQ Composite (RIXF) up by 14.87 points to close at 2,572.06.
Indian ADRs ended mixed. In technology sector, Wipro closed lower by 1.99% as well as Infosys by 0.60% while Satyam and Patni computers closed up by 1.09% and 0.29% respectively. In banking sector, HDFC Bank and ICICI bank gained by 2.39% and 0.41% respectively. VSNL decreased by 4.13% while MTNL gained 3.36%. In automobile sector, Tata Motors closed up by 1.78%. In health care sector, Dr Reddy;s lab closed up by 0.81%.
The major stock market in Asia is trading weak. The Nikkei 225 is trading at 17,631.56 down by 41 points, Hang Seng tumbled by 99.92 points to trade at 20,369.67. Straits Times trading lower at 3,501.18 slipped by 25.90 points. Taiex fall by 44.70 points to trade at 8,136.79.
Today, Nifty has support at 4,240 and resistance at 4,330 and BSE Sensex has support at 14,320 and resistance at 14,680.
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