Indian market is likely to have a positive opening as the US market closed in green and Asian market is trading mixed. On Friday, the Indian markets ended on a positive note as BSE Sensex closed higher by 180.68 points at 15,272.72 while Nifty grew by 58.4 points to close at 4,504.55. We expect the market to see some profit booking during the trading session.
Friday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 45.52 points to close at 13,907.25. The S&P 500 (SPX) index closed higher by 4.80 points at 1,552.50 while the NASDAQ Composite (RIXF) grew by 5.27 points to close at 2,707.
Indian ADRs ended in mixed. In technology sector, Patni computers declined by (1.86%) along with Satyam by (0.92%), Infosys (0.17%) and Wipro (0.13%). In banking sector, HDFC bank and ICICI bank advanced by (1.61%) and (0.97%) respectively. MTNL and VSNL decreased by (2.06%) and (1.03%) respectively.
The major stock markets in Asia are trading mixed. Hang Seng declined by 46.49 points to trade at 23,052.80. Straits Times trading at 3,667.16 up by 12.55 points. Taiwan weighted grew by 60.53 points to trade at 9,531.83.
Today, Nifty has support at 4,465 and resistance at 4,558 and BSE Sensex has support at 15,150 and resistance at 15,420.
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