Indian market is likely to have a positive opening as the Asian market is trading higher. On Friday, the Indian markets ended in a positive note as BSE Sensex closed higher by 140.54 points at 17,291.10 while Nifty closed up by 20.8 points to close at 5,021.35 We expect the market to remain choppy during the trading session Political concerns will put an impact on the market as CPI (M)''s Jyoti Basu on Saturday, 29 September 2007ruled out the possibility of any compromise on the issue of Left’s opposition to the Indo-US nuclear deal. .
Friday, the US markets closed in red. The Dow Jones Industrial Average (DJIA) dropped 17.31 points to close at 13,895.63. The S&P 500 (SPX) index decreased by 4.63 points to close at 1,526.75 and the NASDAQ Composite (RIXF) slipped 8.09 points to close at 2,701.50.
Asian markets were trading higher. Japan''s Nikkei gained 0.39% or 65.66 points at 16,851.35.Taiwan''s Taiwan Weighted rose 0.53% or 49.98 points at 9,526.50. Singapore''s Straits Times surged 1.39% or 51.45 points at 3,757.68.South Korea''s Seoul Composite advanced 1.05% or 20.51 points at 1,966.99.
Today, Nifty has support at 4,960 and resistance at 5,055 and BSE Sensex has support at 17,055 and resistance at 17,390.
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