Indian market is likely to have positive opening as the Asian market is trading higher and US market closed in green territory. On Monday, the Indian markets closed mixed, as BSE Sensex closed marginally higher by 13.75 points at 14,664.26 while Nifty slipped by 4.55 points to close at 4,313.75. We expect the market to remain rangebound during the trading session.
Friday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 126.81 points to close at 13,535.43. The S&P 500 (SPX) index closed up by 16.08 points at 1,519.43 and NASDAQ Composite (RIXF) closed higher by 29.07 points at 2,632.30 points.
Indian ADRs closed in positive. In technology sector, Satyam increased by (1.29%) along with Infosys and Wipro by (1.23%) and (0.96%) respectively. HDFC bank and ICICI bank increased by (2.07%) and (1.83%) respectively. MTNL and VSNL increased by (2.58%) and (1.55%) respectively.
The major stock markets in Asia are trading higher. The Nikkei 225 increased by 54.83 points to trade at 18,201.13. Strait Times index was trading up by 13.93 points at 3,564.27. Taiwan weighted trading higher by 65.86 points at 9,005.35.
Today, Nifty has support at 4,268 and resistance at 4,370 and BSE Sensex has support at 14,540 and resistance at 14,870.
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