Nifty is likely to open flat to negative today following mixed global cues. The first support lies at 5140.25. If went further down it can touch 5111.25 or even 5069.25 at the bottom level. An upward movement can pull up to 5182.25. If moved up further can test 5211.25 and 5282.25.
Asian stocks swung between gains and losses, with the regional benchmark index headed for its first weekly loss in three weeks, after U.S. President Barack Obama unveiled a jobs plan and the Federal Reserve chairman failed to outline extra measures to shore up economic growth. At 7:20 am IST Nikkei had risen 0.11 percent, Kospi down by 0.59 percent and Shanghai Composite index up 0.34 percent. SGX Nifty opened in the negative territory down 29 points at 5133 (7:20 am IST).
U.S. stocks fell, as Federal Reserve Chairman Ben S. Bernanke disappointed investors by not detailing new plans to boost growth in the world’s largest economy. The S&P 500 fell 1.1 percent to 1,185.90 at 4 p.m. in New York as all 10 of its groups declined. The Dow Jones Industrial Average slid 119.05 points, or 1 percent, to 11,295.81.
European stocks climbed, as oil producers and retailers advanced. Germany’s DAX gained less than 0.1 percent, while the U.K.’s FTSE 100 Index and France’s CAC 40 Index both rose 0.4 percent.
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