Domestic indices to open on a positive note - ZENMoney

Domestic indices are likely to open on a positive note mirroring global market movement. Expectations of a limited military involvement of US in the Syrian conflict has raised hopes that the scope of conflict is likely to be limited, which will boost markets world over.

On the domestic front, a slew of measures announced by the new RBI Governor to rescue the financial markets are likely to boost market sentiments. His hints of a focus shift from inflation control to boosting growth will particularly improve market sentiments.

Crude prices are likely to remain range bound amid concerns about a military strike on Syria. Further, speculations of a stimulus trim will also put pressure on prices in the near term.

FII flow was in the positive terrain in yesterday's market. As per provisional figures FIIs net bought equities worth Rs 172.53 crore Wednesday. Further improvement in FII buying can take the market on a higher level.

For the Nifty 5500, 5551, 5692 are the immediate resistance levels, while 5357, 5267, 5126 are its immediate support levels.

For the Sensex 18724, 18881, 19305 are the immediate resistance levels, while 18299, 18032, 17607 are its immediate support levels.

Source : Equity Bulls

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