Indian market is likely to have a positive opening on the back of positive global cues. On Wednesday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 259.55 points at 14,248.66 while Nifty grew by 78.25 points to close at 4,153.15. We expect the market to see some bull run during the trading session.
Wednesday, the US markets closed in green The Dow Jones Industrial Average (DJI) increased by 145.27 points to close at 13,236.13. The S&P 500 (SPX) index closed up by 16.95 points at 1,464.07 while the NASDAQ Composite (RIXF) increased by 31.50 points to close at 2,552.80.
Indian ADRs ended in positive. In technology sector, Satyam grew by 4.13% along with Infosys by 3.30%, Patni computers by 2.98% and Wipro by 2.32%. In banking sector, HDFC bank and ICICI bank increased by (4.26%) and (3.75%) respectively. VSNL and MTNL closed higher by (2.13%) and (1.80%) respectively. Tata Motors increased by (1.09%).
The major stock markets in Asia are trading strong. Japan''s Nikkei trading higher by 392.96 points at 16,293.60. Hang Seng surged by 570.19 points to trade at 22,917.07. Taiwan weighted advanced by 216.69 points to trade at 8,710.15.
Today, Nifty has support at 4,120 and resistance at 4,290 and BSE Sensex has support at 14,150 and resistance at 14,650.
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