Indian market is likely to have a positive opening as the Asian market is trading firm. On Tuesday, the Indian markets ended on a negative note as BSE Sensex closed lower by 21.40 points at 15,289.82 while Nifty decreased by 15.4 points to close at 4,496.75. We expect the market to remain choppy during the trading session.
Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) decreased by 53.33 points to close at 13,918.22. The S&P 500 (SPX) index closed lower by 3.20 points at 1,546.17 while the NASDAQ Composite (RIXF) slipped by 12.80 points to close at 2,699.49.
Indian ADRs ended in negative. In technology sector, Wipro fell by (0.77%) followed by Infosys by (0.57%), Patni computers by (0.46%) and Satyam computers (0.11%). In banking sector, HDFC bank and ICICI bank slipped by (3.87%) and (0.75%) respectively. MTNL decreased by (0.62%).
The major stock markets in Asia are trading strong. Japan''s Nikkei grew by 26.92 points to trade at 18,042.50. Hang Seng advanced by 27.82 points to trade at 22,869.74. Straits Times trading up by 11.85 points at 3,595.91. Taiwan weighted also trading higher by 27.59 at 9,512.94.
Today, Nifty has support at 4,458 and resistance at 4,553 and BSE Sensex has support at 15,180 and resistance at 15,470.
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