Indian market is likely to have positive opening due to positive global cues. On Tuesday, the Indian markets closed in a positive territory, as BSE Sensex closed higher by 142.25 points at 14,806.51 while Nifty grew by 43.8 points to close at 4,357.55. We expect the market to consolidate its gain during the trading session.
Tuesday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 41.87 points to close at 13,577.30. The S&P 500 (SPX) index closed marginally up by 5.44 points at 1,524.87 and NASDAQ Composite (RIXF) closed higher by 12.65 points at 2,644.95 points.
Indian ADRs closed in mixed. In technology sector, Satyam increased by (0.76%) along with Patni computers and Infosys by (0.32%) and (0.24%) respectively while Wipro slipped by (1.02%). ICICI bank increased by (0.70%) while HDFC bank decreased by (0.27%) respectively. VSNL increased by (3.38%) while MTNL decreased by (0.38%).
The major stock markets in Asia are trading strong. The Nikkei 225 increased by 37.52 points to trade at 18,187.42 Hang Seng index trading higher by 121.17 points at 22,272.31. Strait Times index trading lower by 6.62 points at 3,562.81. South Korea Seoul composite trading higher by 30.74 points at 1,836.24.
Today, Nifty has support at 4,320 and resistance at 4,410 and BSE Sensex has support at 14,680 and resistance at 14,930.
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