BOR: Market Outlook: Expect Indian market to open flat in positive sentiments followed by US recovery on the back of Fed action

Market Outlook: Expect Indian market to open flat in positive sentiments followed by US recovery on the back of Fed action to add $1.15 trillion to spark economic healing. The current spring up in the global and Indian equity markets has come as a sigh of relief and ahead of this Sensex can go up to the key technical level of 10,200 in the near term.

Nifty Outlook: Pivot Point: 2794.3
R1: 2836.4, R2: 2878.1, R3: 2920.2
S1: 2752.6, S2: 2710.5, S3: 2668.8

Indian ADRs: ICICI Bank up 6%, HDFC Bank, Satyam, Wipro up 5%, Infosys, Tata Motors up 3%

On the global front: US mkts end higher on central bank's plan to buy govt debt while Asian mkts trading mixed: Nikkei, Hang Seng down. The Federal Reserve fueled the rally on Wall Street after the central bank announced a plan to buy up to USD 300 billion of longer-term US government debt in the next six months and expand its purchases of mortgage-related debt. The Dow Jones Industrial Average closed at 7,486.58, up 90.88 points or 1.23%, after recovering 230 points from day's low of 7,257. The NASDAQ Composite went up 29.11 points or 1.99%, to 1,491.22, after recovering 45 points from day's low of 1,448. The S&P 500 shut shop at 794.35, up 16.23 points or 2.09%, after recovering 28 points from day's low of 766.