Indian market is likely to have a positive opening as the global cues are in favour. On Monday, the Indian markets ended on a negative note, as BSE Sensex closed lower by 235.37 points at 14,903.03 while Nifty decreased by 62.05 points to close at 4,339.50. We expect the market to remain optimism during the trading session.
Monday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 286.87 points to close at 13,468.78. The S&P 500 (SPX) index closed higher by 34.60 points at 1,467.67 while the NASDAQ Composite (RIXF) grew by 36.08 points to close at 2,547.33.
Indian ADRs ended in mixed. In technology sector, Infosys and Satyam computers increased by 0.58% and 0.19% respectively while Patni computers and Wipro decreased by (1.47%) and (0.93%) respectively. In banking sector, HDFC Bank and ICICI bank grew by (4.30%) and (0.90%) respectively. MTNL and VSNL closed higher by (5.19%) and (0.92%) respectively.
The major stock markets in Asia are trading higher. Japan''s Nikkei trading up by 20.62 points at 16,935.08. Hang Seng increased by 184.62 points to trade at 22,121.35. Taiwan weighted was trading higher by 54.21 points at 8,995.94. Singapore straits times advanced by 30.43 points to trade at 3,339.42.
Today, Nifty has support at 4,310 and resistance at 4,400 and BSE Sensex has support at 14,810 and resistance at 15,180.
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