Nifty may see a positive opening on account of the buoyant global markets. Also, the SGX Nifty is up 65 points at 5,612.
Overnight, in the US markets stocks climbed as signs of progress on the U.S. debt talks and concrete action from Europe on its own debt crisis heartened investors. The gains followed that Greece will get a new aid package worth 109 billion euros ($157 billion) and that European Union leaders will amplify the role of the European Financial Stability Facility to allow it to lend to governments and to intervene in the secondary market to avoid contagion.
The Dow Jones industrial average gained 1.2% to 12,724.The Standard & Poor's 500 Index rose 1.3% to 1,344.The Nasdaq Composite Index advanced 0.7% to 2,834.
On account of this, the Asian markets too started on a strong note. Hang Seng up 1.5% is the top gainer followed by Straits Times, Nikkei adding 0.9% each.
The foreign institutional investors (FIIs) remained net sellers for the second consecutive day. According to the NSE data, FIIs sold Rs 364.58 crore in futures and options yesterday.
Back home,Nifty is trading at a sensitive zone. Ashish Chaturmohta, IIFL,Vice President - Derivatives and Technical Analyst states that Nifty finds its immediate and important support at 5500 levels, below which selling pressure can be seen, which may drag the index towards 5450-5420 levels on the downside. On the upside, buying momentum can only be seen if Nifty sustains above 5625 levels on closing basis.
The results expected today are Allahabad Bank, Axis Bank, Colgate Palmolive, Indiabulls Real Estate, Jet Air India, NIIT,Thermax and Union Bank
