Indian market is likely to have a positive opening as the Asian market is trading mixed and US market closed in mixed. On Monday, the Indian markets ended on a positive note as BSE Sensex closed higher by 38.50 points at 15,311.22 while Nifty grew by 7.6 points to close at 4,512.15. We expect the market to remain range bound during the trading session.
Monday, the US markets closed in mixed. The Dow Jones Industrial Average (DJI) increased by 43.73 points to close at 13,950.98. The S&P 500 (SPX) index closed lower by 2.98 points at 1,549.52 while the NASDAQ Composite (RIXF) slipped by 9.67 points to close at 2,697.33.
Indian ADRs ended in mixed. In technology sector, Patni computers advanced by (4.58%) along with Infosys by (0.50%) while Wipro and Satyam decreased by (1.77%)and (1.31%). In banking sector, ICICI bank and HDFC bank and slipped by (0.57%) and (0.41%) respectively. MTNL and VSNL increased by (2.35%) and (1%) respectively.
The major stock markets in Asia are trading mixed. Japan''s Nikkei dropped by 45.70 points to trade at 18,193.25. Hang Seng advanced by 14.46 points to trade at 22,968.80. Straits Times trading flat at 3,653.22. Taiwan weighted also trading flat at 9,418.69.
Today, Nifty has support at 4,475 and resistance at 4,560 and BSE Sensex has support at 15,200 and resistance at 15,460.
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