Indian market is likely to have flat opening with negative bias as Asian market is trading mixed and US market closed in red. On Monday, the Indian markets closed in positive, as BSE Sensex closed marginally higher by 20.36 points at 14,487.72 while Nifty closed up by 7.35 points at 4,259.40. We expect the market to remain range bound during the trading session.
Monday, the US markets closed in red. The Dow Jones Industrial Average (DJI) slipped by 8.21 points to close at 13,352.05. The S&P 500 (SPX) index closed lower by 4.82 points at 1,497.74 and NASDAQ Composite (RIXF) closed in negative at 2,577.08 down by 11.88 points.
Indian ADRs closed mixed. In technology sector, Satyam computers declined by (2%) followed by Patni computers, Infosys and Wipro by (1.60%), (1.31%) and (0.58%) respectively. ICICI bank and HDFC bank fell by (2.40%) and (1.24%) respectively. VSNL slipped by 0.13% while MTNL gained (0.13%). In automobile sector, Tata Motors grew by (0.43%).
The major stock markets in Asia are trading mixed. The Nikkei 225 is trading lower by 56.45 points at 18,031.03. Hang Seng gained 79.26 points to trade at 21,901.61. Strait Times index slipped by 15.76 points to trade at 3,564.57. Taiwan weighted trading down by 39.12 points at 8,900.07.
Today, Nifty has support at 4,210 and resistance at 4,315 and BSE Sensex has support at 14,340 and resistance at 14,650.
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