BOR: Market Outlook: Indian markets will have positive opening today following to the positive performance in the global peers.

Market Outlook: Indian markets will have positive opening today following to the positive performance in the global peers. Current momentum is strong backed by excess liquidity across the globe which is difficult to predict the short-term moves. Nifty has supports at 3550 - 3600 and resistances are at 3700-3750. Some profit booking is also expected at higher levels. Outlook for the markets today is that of optimism as the bulls are likely to push values higher.

Nifty Outlook: Pivot Point: 3599

R1: 3719, R2: 3784, R3: 3905

S1: 3533, S2: 3143, S3: 3347

Indian ADRs rallied on Monday as US markets ended higher. In the banking space, ICICI Bank was up 14.16% at $ 23.46 and HDFC Bank was up 10.31% at $ 82.67. In the IT space, Wipro was up 12.04% at $ 10.61, Infosys was up 6.71% at $ 32.76, Satyam Computers was up 1.13% at $ 1.79 while Patni Computers was up 4.53% at $ 8.08

On the global face Wall Street rallies; Dow ends up 214 points & Asian markets trading firm; Straits Times up 2%. The US markets continue their upward march, kicking off the first full week of May on a solidly positive note. The move was spurred by positive economic signs and strength in banks before the release of stress test results. The market move was also boosted by some positive earnings results and hopes that the Swine Flu epidemic won't be as bad as feared. The Dow gained 214.33 points, or 2.6%, to 8,426.74. The NASDAQ composite index rose 44.36 points, or 2.6%, to 1,763.56. The S&P 500 index rose 29.72 points to 907.24