Market Outlook: Indian equity markets may have flat to positive opening today ahead of mixed sentiments in global peers. Nifty has supports at 3300- 3320 and resistances are at 3440-3490. Intraday dips should see buying support. Outlook for the markets today is that of caution as the higher levels are attracting unwinding.
Nifty Outlook: Pivot Point: 3363
R1: 3416, R2: 3468, R3: 3522
S1: 3311, S2: 3257, S3: 3206
Indian ADRs: Satyam up 6.5%, HDFC Bank up 5% in other sectors, Tata Motors was up 1.17%, Dr Reddy's Labs was up 0.57% while Sterlite Industries was down 1.17%.
On the global front: Wall St ends higher post Geithner comments; Dow up 127 pts while Asian markets trading mixed; Hang Seng down. The US markets ended higher as investors were encouraged by comments from Treasury Secretary Tim Geithner that most banks are well capitalized. Techs jumped up ahead of Yahoo earnings, which were released after the bell. The Dow gained 127.83 points, or 1.6%, to 7,969.56. The S&P 500 index rose 17.69 points, or 2.1%, to 850.08, and the NASDAQ composite index rose 35.64 points, or 2.2%, to 1,643.85.
Nifty Outlook: Pivot Point: 3363
R1: 3416, R2: 3468, R3: 3522
S1: 3311, S2: 3257, S3: 3206
Indian ADRs: Satyam up 6.5%, HDFC Bank up 5% in other sectors, Tata Motors was up 1.17%, Dr Reddy's Labs was up 0.57% while Sterlite Industries was down 1.17%.
On the global front: Wall St ends higher post Geithner comments; Dow up 127 pts while Asian markets trading mixed; Hang Seng down. The US markets ended higher as investors were encouraged by comments from Treasury Secretary Tim Geithner that most banks are well capitalized. Techs jumped up ahead of Yahoo earnings, which were released after the bell. The Dow gained 127.83 points, or 1.6%, to 7,969.56. The S&P 500 index rose 17.69 points, or 2.1%, to 850.08, and the NASDAQ composite index rose 35.64 points, or 2.2%, to 1,643.85.
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