Pre Market Watch

Indian market is likely to have a flat opening for the day with marginal gains, as the investors will be in a wait and watch mood for the RBI''s policy review. On Monday, the benchmark index Sensex ended with a gain of 734.50 points at 19,977.67 after touching the all time high of 20,024.87, whereas Nifty also closed with a good gain of 203.6 points to close at 5905.90. We expect that the market may trade a little cautious ahead of the RBI''s policy review. Further profit booking can be seen in the later stages on yesterday''s purchase.

On Monday, the US markets ended marginally up as the Dow Jones Industrial Average (DJIA) ended with a gain of 63.56 points to close at 13,870.26. Further the NASDAQ Composite & S&P 500 (SPX) index also ended up by 13.25 points & 5.70 points at 2,817.44 & 1,540.98 respectively.

Indian ADRs also ended in green. In telecommunication sector, VSNL & MTNL surged (5.02%) & (2.96%) respectively. In Metal sector, Sterlite Industries is up by (4.26%). In Banking sector ICICI bank & HDFC bank grew (6.53%) & (5.20%). Further in Technology sector, Patni Computers increased by (0.09%), along with Wipro (1.39%) & Infosys (3.51%).

The major stock markets in Asia are trading mixed. Hang Seng is trading with a gain of 114.36 points at 31,701.26. On the other hand, Japan''s Nikkei is trading lower by 117.44 points to trade at 16,580.64. Singapore''s Straits Times index is also trading down by 13.78 points at 3,806 and Seoul Composite lost 9.47 points to trade at 2,053.45.

On Monday, the FIIs stood as the net sellers as the gross equity purchased was Rs.4077.90 (in crores), and the gross debt purchased was Rs.25.30 (in crores) as against the gross equity sold was Rs.4334.70 (in crores) and the gross debt sold was Rs.153.10 (in crores). The net investment of equity was Rs.-256.80 (in crores) and the net debt investment was Rs.-127.80 (in crores).

Today, Nifty has support at 5,810 and resistance at 5,990 and BSE Sensex has support at 19,799 and resistance at 20,185.