 "Pre-Market: Shares may witness gap-up opening")
Markets are likely to open on a strong note following the gains in global markets. However, its likely to be a volatile week ahead as uncertainty heightens whether the US would go ahead with its military strikes on Syria.
At 08:15AM, SGX Nifty traded 40 points higher at 5,804.
Investors will keep a watch on domestic July industrial production and August inflation readings later this week.
Also, investors and traders will initiate positions betting on the outcome of the FOMC meeting, which is likely take a call on the extent of roll back of its monetary stimulus programme.
According to Shardul Kulkarni, senior technical analyst at Angel Broking, "On the upside, the Nifty could touch a minimum level of 5750. It could even go up to 5900-levels. On the downside, the Nifty has a strong support at 5500 levels. A weekly close below this level will result in a change of trend," he said .
Meanwhile, U.S. stocks closed sharply higher on Monday, with the Nasdaq ending at its highest level since September 2000, as upbeat data from China boosted optimism about the health of the global economy.
Sentiment was also lifted by merger activity and easing concerns about a potential Western-led strike on Syria.
The Dow Jones industrial average was up 0.94 percent, at 15,063. The Standard & Poor's 500 Index was up 1 percent, at 1,672. The Nasdaq Composite Index was up 1.26 percent, at 3,706.
Fresh signs of global economic stability drove Asian stocks to a three-month high as investors turned their attention to more data out of China.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, extending Monday's 1.3 percent gain.
Tokyo's Nikkei climbed 0.8 percent, adding to Monday's 2.5 percent rally on euphoria that Tokyo has won the rights to host the 2020 Olympic Games.
Some of the stocks to watch out for are telecomm scrips as the Telecom Regulatory Authority of India (Trai) on Monday proposed a 37 per cent reduction in base price, from Rs 2,379 crore to Rs 1,496 crore per MHz of pan-Indian spectrum.
Hindustan Zinc is likely to gain some traction as Vedanta Plc, the London-based metals and energy giant, might sweeten its offer for the Union government’s stake in Hindustan Zinc Ltd by another 10 percent.
At 08:15AM, SGX Nifty traded 40 points higher at 5,804.
Investors will keep a watch on domestic July industrial production and August inflation readings later this week.
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The US senate this week will debate and decide whether to authorise the attack on Syria. Investors worry a war would drive up oil prices which will revive concerns about current account deficit and its impact on the rupee.
Also, investors and traders will initiate positions betting on the outcome of the FOMC meeting, which is likely take a call on the extent of roll back of its monetary stimulus programme.
According to Shardul Kulkarni, senior technical analyst at Angel Broking, "On the upside, the Nifty could touch a minimum level of 5750. It could even go up to 5900-levels. On the downside, the Nifty has a strong support at 5500 levels. A weekly close below this level will result in a change of trend," he said .
Meanwhile, U.S. stocks closed sharply higher on Monday, with the Nasdaq ending at its highest level since September 2000, as upbeat data from China boosted optimism about the health of the global economy.
Sentiment was also lifted by merger activity and easing concerns about a potential Western-led strike on Syria.
The Dow Jones industrial average was up 0.94 percent, at 15,063. The Standard & Poor's 500 Index was up 1 percent, at 1,672. The Nasdaq Composite Index was up 1.26 percent, at 3,706.
Fresh signs of global economic stability drove Asian stocks to a three-month high as investors turned their attention to more data out of China.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, extending Monday's 1.3 percent gain.
Tokyo's Nikkei climbed 0.8 percent, adding to Monday's 2.5 percent rally on euphoria that Tokyo has won the rights to host the 2020 Olympic Games.
Some of the stocks to watch out for are telecomm scrips as the Telecom Regulatory Authority of India (Trai) on Monday proposed a 37 per cent reduction in base price, from Rs 2,379 crore to Rs 1,496 crore per MHz of pan-Indian spectrum.
Hindustan Zinc is likely to gain some traction as Vedanta Plc, the London-based metals and energy giant, might sweeten its offer for the Union government’s stake in Hindustan Zinc Ltd by another 10 percent.