Pre Session Market

Indian market is likely to have a flat opening as the Asian market is trading mixed. On Monday, the Indian markets ended on a negative note as BSE Sensex closed lower by 281.97 points at 17,491.39 while Nifty fell 100.75 points to close at 5, 085.10. We expect the market see a good amount of volatility on the back of political concerns and the investors will follow a wait and watch approach before booking their positions.

Monday, the US markets closed in a negative territory. The Dow Jones Industrial Average (DJIA) dropped 22.28 points to close at 14,043.73. The S&P 500 (SPX) index decreased by 5.01 points to close at 1,552.58 while the NASDAQ Composite (RIXF) grew 7.05 points to close at 2,787.37.

Crude oil prices closed at $79.02per barrel lower by $2.20 in NYME. The crude oil prices closed below $80 per barrel on the back of strengthening of dollar as against major currencies.

Indian ADRs ended with a mixed bag. In technology sector, Patni computers grew by (4.33%) along with Infosys by (0.10%) while Satyam and Wipro slipped by (1.45%) and (0.53%) respectively. In banking sector, ICICI bank and HDFC bank dropped by (1.66%) and (1.02%) respectively. VSNL and MTNL dropped by (3.70%) and (1.42%) respectively. In Metal sector, Sterlite industries fell by (4%).

The major stock markets in Asia are trading mixed. Japan''s Nikkei is trading up by 157.05 points at 17,222.09. Hang Seng Index slipped by 93.83 points to trade at 27,676.46. Singapore''s Straits Times index trading marginally higher by 7.94 points at 3,828.25. Taiwan Weighted dropped by 108.76 points to trade at 9,608.40. Seoul Composite trading down by 17.18 points at 1,995.64.

Today, Nifty has support at 4,981 and resistance at 5,132 and BSE Sensex has support at 17,212 and resistance at 17,696.