BOR: Market Outlook: Indian Equity Markets may have negative opening following the global trend.

Market Outlook: Indian Equity Markets may have negative opening following the global trend. The Nifty is now trading at a crucial stage and has many hurdles going up. It has resistances at 3150-3200-3250 and supports at 3050-3000. But this is not the beginning of a structural bull market. Q4 results will be challenging and the election is a key trigger for India over near-term.

Nifty Outlook: Pivot Point: 3096

R1: 3108, R2: 3163, R3: 3203

S1: 3068, S2: 3028, S3: 3001

Indian ADRs: Tata Motors up 9%, MTNL up 4%, Infosys down 7%, HDFC Bank down 5%

On the global front: Wall Street declines; Dow ends down 148 points: Asian markets trading weak; Hang Seng, Nikkei down. US stocks ended a relatively good week on a negative note as investors locked in profits and banking shares took a hit after some bank executives said March had been a tougher month than the earlier two. The Dow plunged 148.38 points, or 1.9%, to 7,776.18. The S&P 500 index declined 16.92 points, or 2%, to 815.94 and the NASDAQ composite index slipped 41.80 points, or 2.6%, to 1,545.20.

Global economic news, personal spending rose for a second straight month climbing 0.2% in February after January's revised 1-percent increase, while income slipped 0.2%. And consumer sentiment improved more than expected in March.