Indian stock markets are beginning to look more bullish in proportion to the majority of the worldwide indices.

After a hefty fall on March 30, stock markets re-started the upward journey once again as foreign funds were seen purchasing with renewed energy. The build up in F&O segment also hints bullishness will persist in the coming time.

The Nifty level of 3,150, which witnessed strong resistance during March 2009, is likely to act as a strong support level now as options traders were seen writing strike puts at 3,100-3,200.

In actual fact, call options traders anticipate the Nifty to go up further in today’s trading session and close above 3,250 levels, as is clear from their buying 3,300-3,500 strike calls on hopes that the existing thrust is expected to continue in the coming time.

New Delhi, Apr. 6: With the Nifty hitting the 3300 mark on Monday, equities made an impressive opening. Buying interest has emerged in realty, banking and metal stocks.

The Sensex jumped by 306.06 points to touch the six-month high level at 10,654.89, while National Stock Exchange’s Nifty is up 87 points to 3,298.

The Nifty hit 3300 benchmark in the first few minutes of trade but eased some gains and was trading at 3292, up 81.85 points.

Realty stocks are leading the rally today. The realty index on the BSE has jumped more than six per cent on heavy buying in HDIL, Unitech and DLF.

Karvy Stock Broking Limited has maintained ‘buy’ rating on Reliance Petroleum Ltd (RPL) stock with an intraday target of Rs 112.

According to Karvy, interested traders can purchase the stock between Rs 102-103 with a strict stop loss of Rs 98.50. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 114.
 
Shares of the company, on Thursday (April 02), closed at Rs 103.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 206.45 and a low of Rs 68.10 on BSE.

BSE Sensex (10357.47) and Nifty (3211.05) closed 3.0% and 3.3% up respectively last week. Nifty Put Call Ratio was 1.67. Nifty April 3200 Call Option was very active. .Support for Sensex is at 9780 and Nifty at 3040. Resistance for Sensex is at 11000 and Nifty is at 3400. Inflation was at 0.31 v/S 0.27 last week. Crude oil was at 51.00$.

Market rose ahead of G-20 meet on anticipation that majors economies will resolve the global financial crisis. Indian Stock Market will remain closed on Third, Seventh and Tenth April, 2009 because of festive holidays. RNRL and MRPL added Open Interest in April Series.

Tokyo  - The Tokyo market opened higher Monday as investors bought mostly export-oriented issues on a weaker yen, despite a rocket launched by North Korea the previous day.

The benchmark Nikkei 225 Stock Average index advanced 200.1 points, or 2.29 per cent, to 8,949.94.

The broader Topix index of all first-section issues was up 12.49 points, or 1.5 per cent, to 843.85.