Market Outlook: Indian markets will have flat to positive opening today. Team Manmohan takes charge of their respective ministries from today; Government will start its second innings after the Congress-led United Progressive Alliance won comfortably in the just concluded General Elections. All eyes are now on Finance Minister Pranab Mukherjee and his key challenge will be to revive the economy within the first 100 days in office. Nifty has supports at 4100-4150 & resistances are at 4330-4370. Nifty may consolidate here and form a base here. Outlook for the markets today is that of cautious optimism as follow up buying will be needed to push markets higher.
Nifty Outlook: Pivot Point: 4214
R1: 4273, R2: 4308, R3: 4367
S1: 4179, S2: 4121, S3: 4086
Results today: Jet Airways, GHCL, HCC, Dishman, REC, Karnataka Bank, Tourism Finance
The Indian ADR ended higher: Satyam was up 12.50%, Patni was up 3.33%, Tata Comm was up 1.54%, ICICI Bank was up 5.32%, & Dr Reddys was up 2.91%
Nifty Outlook: Pivot Point: 4214
R1: 4273, R2: 4308, R3: 4367
S1: 4179, S2: 4121, S3: 4086
Results today: Jet Airways, GHCL, HCC, Dishman, REC, Karnataka Bank, Tourism Finance
The Indian ADR ended higher: Satyam was up 12.50%, Patni was up 3.33%, Tata Comm was up 1.54%, ICICI Bank was up 5.32%, & Dr Reddys was up 2.91%
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