Indian market is likely to have a positive opening due to strong positive global cues. On Thursday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 109.08 points at 15,614.44 while Nifty closed up by 32.1 points at 4,528.95. We expect the market to trade higher but within a range during the trading session.
On Thursday, the US market closed in green. The Dow Jones Industrial Average grew by 133.23 points to close at 13,424.88. The Nasdaq Composite Index increased by 8.99 points to close at 2,601.06. The S&P 500 index closed up by 12.39 points at 1,483.95.
Indian ADRs ended in green. In technology sector, Satyam computers grew by (1.84%) along with Patni computers by (1.43%,) Infosys by (1.32%) while Wipro slipped by (0.29%). In banking sector, HDFC bank and ICICI banks advanced by (0.95% )and (0.27%) respectively. MTNL and VSNL grew by (1.12%) and (0.05%) respectively.
The major stock markets in Asia are trading strong. Japan''s Nikkei trading firm by 179.26 points to trade at 16,000.45. Hang Seng grew by 261.38 points to trade at 24,798.40. Singapore Strait times trading higher by 44.06 points at 3,548.46. South Korea,s Seoul composite is trading up by 19.63 points at 1,867.65.
Today, Nifty has support at 4,500 and resistance at 4,590 and BSE Sensex has support at 15,520 and resistance at 15,844.
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