Indian market is likely to open flat as US market closed flat with negative bias and major market in Asia Pacific region is trading weak. On Monday, the Indian markets closed in red, as BSE Sensex closed lower by 82.57 points at 14,080.14 while Nifty closed down by 24.35 points at 4,147.10. We expect the market to remain choppy during the trading session.
Monday, the US markets closed flat with negative bias. The Dow Jones Industrial Average (DJI) fell by 26.50 points to close at 13,612.98. The S&P 500 (SPX) index closed marginally down by 1.86 points at 1,531.05 and NASDAQ Composite (RIXF) dropped by 0.11 points to close at 2,626.60.
Indian ADRs closed mixed. In technology sector, Wipro, Infosys and Satyam dropped by 2.48%, 1.71% and 0.85% respectively. HDFC bank fell by 0.72% while ICICI Bank surged by 1.03%. MTNL and VSNL dropped by 0.52% and 0.90% respectively.The major stock markets in Asia Pacific region are trading weak. The Nikkei 225 is trading at 18,143.92 down by 5.60 points, Seoul Composite slipped 7.66 points to trade at 1,799.22. Straits Times trading flat at 3,622.47.
Today, Nifty has support at 4,100 and resistance at 4,210 and BSE Sensex has support at 13,900 and resistance at 14,280.
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