Indian market is likely to have flat opening as Asian market is trading mixed. On Friday, the Indian markets closed in positive territory, as BSE Sensex closed higher by 145.94 points at 14,650.51 while Nifty grew by 36.3 points to close at 4,318.30. We expect the market to remain range bound during the trading session.
Friday, the US markets closed in red. The Dow Jones Industrial Average (DJI) fell by 13.66 points to close at 13,408.62. The S&P 500 (SPX) index slipped by 2.36 points to close at 1,503.35 and NASDAQ Composite (RIXF) closed lower by 5.14 points at 2,603.23 points.
Indian ADRs closed in negative. In technology sector, Infosys decreased by (2.04%) along with Wipro by (1.46%), Satyam by (1.20%) and Patni computers by (0.16%). HDFC bank increased by (1.42%) while ICICI bank fell by (0.12%). VSNL increased by (0.56%) while MTNL decreased by (0.77%).
The major stock markets in Asia are trading mixed. The Nikkei 225 decreased by 17.74 points to trade at 18,120.62 Strait Times index was trading down by 4.32 points at 3,543.88. Taiwan weighted trading higher by 6.05 points at 8,889.26.
Today, Nifty has support at 4,280 and resistance at 4,375 and BSE Sensex has support at 14,540 and resistance at 14,795.
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