Indian market is likely to have a flat opening as the Asian market is trading mixed. On Monday, the Indian markets ended in a positive note as BSE Sensex closed higher by 37.52 points at 17,328.62 while Nifty closed up by 47.6 points at 5, 068.95. We expect the market to remain range bound during the trading session.
Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJIA) dropped 40.24 points to close at 14,047.31. The S&P 500 (SPX) index decreased by 0.41 points to close at 1,546.63 and the NASDAQ Composite (RIXF) increased 6.12 points to close at 2,747.11.
Indian ADRs ended in mixed. In technology sector, Satyam computers grew by 1.13% along with Infosys snad Wipro by (0.71%) and (0.68%) respectively while Patni computers fell by (0.69%). In banking sector, ICICI Bank and HDFC bank gained by (1.26%) and (0.37%) respectively. MTNL grew by (0.48%) while VSNL fell by (5.39%) respectively. In automobile sector, Tata Motors decreased by (0.87%).
The major stock markets in Asia are trading mixed. The Nikkei 225 is trading flat at 17,055.49, Hang Seng fell by 36.48 points to trade at 28,163.27. Straits Times trading higher by 38.76 points at 3,832.59.
Today, Nifty has support at 5,015 and resistance at 5,113 and BSE Sensex has support at 17,120 and resistance at 17,518.
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