Pre market: Flat opening on cards

The markets may see a flat opening on the back of mixed gloabal cues. At 700 am Indian Standard Time, the SGX Nifty was up 15 points at 5598.

Technically, one can look to go long on dips with a stop around 5,550. On the upside, the index can bounce to 5,635-5,670. On Wednesday, the Nifty is likely to seek support around 5,545-5,530, while face resistance around 5,595-5,615.

In the international markets, Wall Street halted its two-day rally on Tuesday, after Federal Reserve Chairman Ben Bernanke said the central bank lacks tools to cushion the economy from the impact of the "fiscal cliff."

The Dow Jones industrial average slipped 0.06 percent, to 12,788 at the close. But the Standard & Poor's 500 Index edged up 0.07 percent, to finish at 1,388. The Nasdaq Composite Index inched up 0.02 percent, to close at 2,917.

However, the Asian markets are trading mixed with Nikkei up nearly 1 percent leading gains after yen slumped to seven-month lows against the dollar On Wednesday and fell nearly as far against the euro on views Japan's central bank will be pushed into implementing more radical monetary expansion policies.

Meanwhile, Shanghai Composite was down 0.4% along with KOSPI Composite and Straits Times up 0.3-0.5%.

STOCKS TO WATCH

United Spirits may see some action as Diageo Plc will launch its over Rs 5,441 crore open offer in January next year to acquire 26% stake in the company.

GMR Infrastructure may react in the positive as the company developing the Male International Airport, has won a breather in its ongoing legal tussle with Maldives Airport Company Limited.

ONGC and BPCL mat see a red tick as two state-run companies that had proposed to jointly develop a terminal in Mangalore put the plan on hold.

Maruti Suzuki may see an uptick on the rise of M800 exports on the back of boom in demand in markets such as Egypt and Algeria.