Networth Stock Broking has suggested a strong resistance for NSE Nifty in 3000-3100 range. US Stock markets ended positive and Asian markets are expected to open strong on Monday. Indian Stock markets may also open with a wide upward gap on Monday.
As per figures from exchange, stocks worth Rs 4.5 crore were sold by FII in cash market on Friday. Domestic Institutional investors sold stocks worth Rs 184 crore in cash market.
Network Stock Broking analysts believe 2510 and 2492 as a strong support level for NSE Nifty.
Indian Stock Markets opened strong on Monday as the government announced fiscal stimulus package of Rs 20k crore. Among major gainers during first 30 minutes of trading session were ICICI Bank, DLF, Idea Cellular, Grasim and SAIL. At 10.30 am, NSE Nifty was up by 87 points while BSE Sensex was up by 300 points.
Among other gainers were, Reliance Industries (up by Rs 26 at 1143), Satyam Computers (up by Rs 5.6 at 231), Unitech (up by Rs 2.5 at 33.3).
Technical Analyst Sudarshan Sukhani belives that the stock markets may remain bearish for next couple of months.
Tokyo - Japan markets opened stronger on Monday, with stocks driven up by hope for the US economy to recover as president-elect Barack Obama Saturday pledged a large-scale spending plan.
The benchmark Nikkei 225 Stock Average was up 203.2 points, or 2.57 per cent, to 8,120.71 by mid-trading, carrying over Friday's positive sentiment at Wall Street.
The broader Topix index of all first-section issues rose 11.34 points, or 1.44 per cent to 797.36.
Indian equities ended the week below 9,000 mark due to strong selling pressure witnessed across IT, consumer durable, oil & gas and metal stocks.
The 30-share index BSE Sensex, which opened with a loss of 25.06 points at 9,204.69, on Friday, rallied for a short time but profit booking at higher levels brought it back into the negative terrain.
Among the sectoral indices, BSE Consumer durables and IT lost more than 4% each, Realty, Metal and Oil&gas declined over 3% each.
BSE Midcap and Smallcap index lost 1.02% and 0.25% respectively.
New York - Despite gloom on the labour and automotive fronts, US stocks gained Friday as Hartford Financial Services Group Inc increased its profit forecast and said it was weathering the credit crisis.
Tech stocks rallied 4.4 per cent on the Nasdaq Composite Index, the largest increase of the three major Wall Street markets.
Tokyo - Japan markets opened stronger on Monday, with stocks driven up by hope for the US economy to recover as president-elect Barack Obama Saturday pledged a large-scale spending plan.
All listed
Indian equities ended the week below 9,000 mark due to strong selling pressure witnessed across IT, consumer durable, oil & gas and metal stocks. 
New York - Despite gloom on the labour and automotive fronts, US stocks gained Friday as Hartford Financial Services Group Inc increased its profit forecast and said it was weathering the credit crisis.
