Indian market is likely to have a positive opening due to positive global cues. On Wednesday, the Indian markets ended on a firm positive note, as BSE Sensex closed higher by 653.63 points at 16,322.75 while Nifty grew by 186.15 points to close at 4,732.35. We expect the market to remain range bound during the trading session.
On Wednesday, The US market closed in green. The Dow Jones Industrial Average (DJIA) surged 76.17 points to close at 13,815.56. The S&P 500 (SPX) index increased by 9.25 points to close at 1,529.03 and the NASDAQ Composite (RIXF) grew 14.82 points to close at 2,666.48.
Indian ADRs ended in mixed. In technology sector, Patni computers grew by (4.61%) along with Satyam by 3.46% while Infosys and Wipro fell (0.44%) and (0.42%) respectively. In banking sector, HDFC bank and ICICI bank advanced by (2.69%) and (2.19%) respectively. MTNL grew by (2.50%).
The major stock markets in Asia are trading higher. Hang Seng is trading up by 101.56 points to close at 25,655.20. Japan''s Nikkei advanced by 13.68 points to trade at 16,395.22. Taiwan weighted trading higher by 126.35 points at 9,052.73. Singapore Strait times increased by 9.99 points to trade at 3,584.37.
Today, Nifty has support at 4,680 and resistance at 4,795 and BSE Sensex has support at 16,050 and resistance at 16,525.
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