BOR: Market Outlook: Indian Markets will have positive opening on account of strong global cues.

Market Outlook: Indian Markets will have positive opening on account of strong global cues. Supports are seen near 3400-3430 and resistances at 3500-3550. Some Profit booking is expected at higher levels in the second half of the session. Yesterday markets have closed in the upper half of the intraday range, the positive market internals and the higher volumes indicating stronger buying momentum. Alert on General elections begin from today & All eyes on expected Annual inflation rate is forecast to have turned negative for the first time in early April due to weak economic activity and last year’s surge in prices.

Inflation Update: Market expectation fall of -0.18 per cent in the wholesale price index in the 12 months to April 4, down from a +0.26 per cent rise the previous week. If realized, it would be for the first time India's wholesale price-based inflation rate has been below zero since annual records started in 1977/78 and comes eight months after inflation peaked at 12.91 per cent in early August.

Results today: BASF India, Container Corp, ETC Networks, Honeywell Automation, Raj Television, Upper Ganges Sugar

Nifty Outlook: Pivot Point: 3431

R1: 3550, R2: 3616, R3: 3736

S1: 3364, S2: 3245, S3: 3179

Indian ADRs: Infosys down 7%, Tata Motors, ICICI Bank up 6%, MTNL up 4%

On the global front Wall Street advances; Dow ends up 109 pts while Asian markets trading higher; Nikkei up 2.9%. The US markets rally after a rocky session. A late surge of buying interest and a spike in trading volume helped all the three major indices to finish at their session's highs. The buying effort was largely focused on financial stocks which finished with a gain of 5.6% for the session. Techs remained underwater as Intel's lack of guidance rattled the sector. In economic news, the Federal Reserve's "beige-book" report indicated that the pace of economic contraction may be slowing the New York Fed delivered a better-than-expected report on manufacturing. March industrial production fell a more-than-expected 1.5%, while capacity utilization came in at 69.3%. Consumer prices for March slipped 0.1% against expectations of 0.1% increase. Core prices increased 0.2% against an expectation of 0.1%. The Dow Jones industrial average rose 109.44 points, or 1.38%, to 8,029.62. The S&P 500 Index gained 10.56 points, or 1.25%, to 852.06. The NASDAQ Composite Index added 1.08 points, or 0.07%, to 1,626.80.