Market Outlook: Indian markets expected to open flat ahead of missed global cues. Supports are at 2560 -2580 and resistances are at 2680-2700. Global markets are not firm therefore, Nifty may drift lower. Traders should go short near the resistance levels. On the trading perspective market view still remains to sell on rise. Outlook for the markets today is that of caution as the truncated week ahead due to holidays will see limited buying support.
Nifty Outlook: Pivot Point: 2595
R1: 2652, R2: 2684, R3: 2741
S1: 2563, S2: 2507, S3: 2475
Indian ADRs: Satyam up 14%, Infosys, HDFC Bank, ICICI Bank up 2%, Tata Motors up 1%
On the global front: US unemployment at record high; Wall Street ends mixed while Asia trading mixed; Hang Seng, Nikkei down. The Wall Street played around in both negative and positive terrain but ended mixed — and close to flat — on Friday after a volatile session. Economic data, however, continued to be bleak as the February jobs report indicated employers cut jobs by 6.51 lakh and unemployment climbed to a more-than-expected 8.1%, a 25-year high.
Nifty Outlook: Pivot Point: 2595
R1: 2652, R2: 2684, R3: 2741
S1: 2563, S2: 2507, S3: 2475
Indian ADRs: Satyam up 14%, Infosys, HDFC Bank, ICICI Bank up 2%, Tata Motors up 1%
On the global front: US unemployment at record high; Wall Street ends mixed while Asia trading mixed; Hang Seng, Nikkei down. The Wall Street played around in both negative and positive terrain but ended mixed — and close to flat — on Friday after a volatile session. Economic data, however, continued to be bleak as the February jobs report indicated employers cut jobs by 6.51 lakh and unemployment climbed to a more-than-expected 8.1%, a 25-year high.
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