Pre Market Session

Indian market is likely to have a positive start for the day, as the domestic factor relating to FIIs is a bit relaxed. Further the global cues are also seems to be supportive. On Monday, the market traded with high volatility and ended mixed as the benchmark index Sensex closed up by 54.01 points at 17,613.99, whereas Nifty closed at 5,184 down by 31.30 points. We expect that the market may trade with choppiness along with cautious approach of the investors towards taking new positions.

On Monday, the US markets relaxed a bit as the Dow Jones Industrial Average (DJIA) closed up by 44.95 points to close at 13,566.97. NASDAQ Composite & S&P 500 (SPX) index also gained 28.77 points & 5.0 points to close at 2,753.93 & 1,506.33 respectively.

Indian ADRs ended with good gains. In telecommunication sector, VSNL & MTNL surged (5.73%) & (10.21%) respectively. In metal sector, Sterlite Industries grew by (2.65%). In Banking sector, ICICI bank & HDFC bank gained (5.06%) and (2.87%) respectively. Further in technology sector, Satyam increased by (3.77%) along with Wipro by (1.87%), Patni Computers by (3.79%) and Infosys by (1.91%).

The major stock markets in Asia are also trading in green territory. Hang Seng is trading with the gain of 570.76 points at 28,944.39. Along with this, Japan''s Nikkei is trading higher by 56.44 points to trade at 16,494.91. Singapore''s Straits Times index is also trading positive by 17.02 points at 3,659.66 and Seoul Composite is up by 23.26 points to trade at 1927.07.

Yesterday, the FIIs stood as the net sellers as the gross equity purchased was Rs.6,794.30.00 (in crores), and the gross debt purchased was Rs.0.00 (in crores) as against the gross equity sold was Rs.10,009.00 (in crores) and the gross debt sold was Rs.0.00 (in crores). The net investment of equity was Rs.-3,214.70 (in crores) and the net debt investment was Rs.0.00 (in crores).

Today, Nifty has support at 5,102 and resistance at 5,324 and BSE Sensex has support at 17,455 and resistance at 17,843.