Pre Market Watch

Indian market is likely to have positive opening as the global cues are in favor. On Friday, the market opened with heavy gains and closed on a impressive note due to heavy buying in the index heavyweights. Also the market got a boost as the India''s whole price index grew by 3.01% in the 12 months ended November 10, 2007 as compared to previous week rise of 3.11%. The Indian markets closed in a positive territory as BSE Sensex surged 326.55 points to close at 18,852.87 and NSE Nifty closed up by 89.25 points at 5,608.60. We expect the market may gain some ground during the trading session.

On Friday, the US market remains closed in green. The DJIA closed up by 181.84 points at 12,980.88. The Nasdaq and S&P 500 index grew by 34.45 points and 23.93 points at 2,596.60 and 1,440.70 respectively.

Indian ADRs ended in green. In technology sector, Satyam grew by (4.67%) along with Wipro by (2.96%) and Infosys by (1.14%). In banking sector, HDFC bank ICICI bank surged (7.74%) and (4.74%) respectively. VSNL and MTNL advanced by (2.66%) and (1.84%) respectively.

The major stock markets in Asia are trading strong. Hang Seng is trading up by 863.33 points at 27,404.42. Japan''s Nikkei is trading higher by 195.34 points at 15,084.11. Singapore Strait times is trading at 3,399.31 higher by 73.42 points. Taiwan weighted grew by 155.40 points to trade at 8,497.60 and Seoul Composite advanced by 54.20 points to trade at 1,827.08.

Today, Nifty has support at 5,567 and resistance at 5,718 and BSE Sensex has support at 18,696 and resistance at 19,229