Indian market is likely to have a positive opening on the back of positive global cues. On Monday, the Indian markets ended on a strong positive note, as BSE Sensex closed higher by 286.03 points at 14,427.55 while Nifty grew by 101 points to close at 4,209.05. We expect the market to remain optimism during the trading session.
Monday, the US markets closed in green The Dow Jones Industrial Average (DJI) grew by 42.27 points to close at 13,121.35. The S&P 500 (SPX) index closed flat at 1,445.55 while the NASDAQ Composite (RIXF) increased by 3.56 points to close at 2,508.59.
Indian ADRs ended in mixed. In technology sector, Patni computers grew by (3.32%) while Satyam, Infosys and Wipro slipped by (2.73%), (1.10%) and (0.22%) respectively. In banking sector, ICICI bank and HDFC bank fell by (2.40%) and (2.25%) respectively. VSNL and MTNL closed lower by (2.98%) and (1.63%) respectively. Tata Motors decreased by (1.94%).
The major stock markets in Asia are trading strong. Japan''s Nikkei trading higher by 235.34 points at 15,967.82. Hang Seng surged by 638.60 points to trade at 22,234.23. Singapore Straits times increased by 21.40 points to trade at 3,343.78. Seoul Composite advanced by 25.17 points to trade at 1,756.44.
Today, Nifty has support at 4,175 and resistance at 4,330 and BSE Sensex has support at 14,310 and resistance at 14,890.
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