Indian market is likely to have a positive opening as the Asian market is trading mixed. On Friday, the Indian markets ended on a positive, as BSE Sensex closed higher by 216.28 points at 16,564.23 while Nifty grew by 90 points to close at 4,837.55. We expect the market to remain range bound during the trading session.
On Friday, The US market closed in positive territory. The Dow Jones Industrial Average (DJIA) surged 53.49 points to close at 13,820.19. The S&P 500 (SPX) index increased by 7 points to close at 1,525.75 and the NASDAQ Composite (RIXF) grew 16.93 points to close at 2,671.22..
Indian ADRs ended mixed. In technology sector, Wipro grew by (0.51%) while Infoys, patni computers fell by (0.85%) and (0.17%). In banking sector, ICICI bank and HDFC bank grew by (3.52%) and (2.83%) respectively. .
The major stock markets in Asia are trading higher Hang Seng is trading higher by 218.06 points at 26,061.84. Singapore Strait times trading up by 58.86 points at 3,601.08. Today, Nifty has support at 4,796 and resistance at 4,935and BSE Sensex has support at 16,470 and resistance at 16,740.
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