Indian market is likely to have a flat opening as the Asian market is trading mixed. On Thursday, the Indian markets ended with marginal gain, as BSE Sensex closed higher by 25.20 points at 16,347.95 while Nifty grew by 15.2 points to close at 4,747.55. We expect the market to see some profit booking and the investors will take calculated steps in booking their position during the trading session.
On Thursday, The US market closed in negative territory. The Dow Jones Industrial Average (DJIA) dropped 48.86 points to close at 13,766.70. The S&P 500 (SPX) index decreased by 10.28 points to close at 1,518.75 and the NASDAQ Composite (RIXF) fell 12.19 points to close at 2,654.29.
Indian ADRs ended in negative. In technology sector, Infosys fell by 4.59% along with Satyam 3.70%, Wipro 2.74% and Patni computers 2.23%.. In banking sector, HDFC bank slipped by 0.89% while ICICI bank advanced by (0.58%). MTNL and VSNL dropped by (1.79%) and (0.10%).
The major stock markets in Asia are trading mixed. Hang Seng is trading higher by 146.49 points to trade at 25,701.13. Japan''s Nikkei slipped by 103.70 points to trade at 16,310.99. Taiwan weighted grew by 52.02 points to trade at 9,035.05. Singapore Strait times trading flat at 3,551.34.
Today, Nifty has support at 4,687 and resistance at 4,795and BSE Sensex has support at 16,175 and resistance at 16,480.
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