BOR: Market Outlook: Indian Markets may see a flat to negative opening today as global slums down on lower economic concern

Market Outlook: Indian Markets may see a flat to negative opening today as global slums down on lower economic concern. Nifty has supports at 2700-2730 and resistances are at 2830-2860. Market may remain volatile today on account of ahead uncertain global cues waiting for major economic data. The only trigger to keep markets in action would be domestically a possible interest rate cut which is expected to be near to 0.50 basis points.

Nifty Outlook: Pivot Level: 2786
S1: 2770, S2: 2751, S3: 2736
R1: 2805, R2: 2820, R3: 2839

Indian ADRs: Satyam down 7%, Infosys down 2%, ICICI Bank down 1%, Wipro up 1%

On the global front: Wall Markets tumbled as anxiety over how the Obama administration will fix the crippled financial system pushed the Dow to its lowest level in more than six years. US markets tumble; Dow ends at six-year low and on dismal mfg data, weak outlook from HP and Asian markets trading lower; Hang Seng down 2% Asian stocks slide after Wall Street slump.