Indian market is likely to have a positive opening on the back of strong global cues. On Friday, the Indian markets ended on a negative note, as BSE Sensex fell 216.69 points to close at 14,141.52 while Nifty slipped by 70.55 points to close at 4,108.05. We expect the market to trade higher during the trading session.
Friday, the US markets closed in green The Dow Jones Industrial Average (DJI) grew by 233.30 points to close at 13,079.08. The S&P 500 (SPX) index closed up by 34.67 points at 1,445.94 while the NASDAQ Composite (RIXF) increased by 53.96 points to close at 2,505.03.
Indian ADRs ended in positive territory. In technology sector, Wipro grew by (5.18%) along with Infosys by (2.90%) and Satyam by (2.33%). In banking sector, ICICI bank and HDFC bank surged by (12.86%) and (8.32%) respectively. VSNL and MTNL closed higher by (7.91%) and (6.46%). Tata Motors grew by (2.16%).
The major stock markets in Asia are trading strong. Japan''s Nikkei trading higher by 562.89 points at 15,836.57. Hang Seng surged by 534.95 points to trade at 20,922.08. Singapore Straits times increased by 145.64 points to trade at 3,276.35. Seoul Composite advanced by 78.44 points to trade at 1,716.51.
Today, Nifty has support at 4,105 and resistance at 4,290 and BSE Sensex has support at 14,140 and resistance at 14,750.
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