The Nifty index of the National Stock Exchange (NSE) appeared stronger today and there are expectations that it would touch psychological level of 5900 in trade today.

The 50-share Nifty index received a boost from positive openings in other Asian markets and dealers believe that it is likely to touch 5900 mark today. They said that there is an oversold position in the market and global indications would help Nifty cross the mark of 5900 today. Nifty India stock futures in Singapore were trading 53 points lower at 5937 this morning indicating a strong opening for the index.

The index has fallen by another 100 points during the week and closed at 5870, which is near the support level set by the market regulator. During the entire previous week, the Sensex fell 1.67 per cent  while Nifty fell 1.75 per cent, eradicating previous week's gains. MArket analysts still expect high volatility in the market. Some even say that if the index falls below 5800, it could trigger fresh selling pressure in the market.

Asian markets were trading higher  on Monday as Nikkei rebounded from its fall of the previous week and was up nearly 3 per cent, Singapore's Straits Times rose 0.6 per cent and South Korea's KOSPI gained 0.3 per cent in the early trade on Monday.