Nifty is likely to open flat today following mixed global cues. The first support lies at 4891.28. If went further down it can touch 4841.61 or even 4722.51 at the bottom level. An upward movement can pull up to 4960.71. If moved up further can test 5010.38 and 5079.81.
Asian stocks swung between gains and losses as companies advanced on higher crude prices, countering declines by Japanese utilities. Nikkei fell 0.2 percent, Hang Seng Index advanced 0.8 percent, while China’s Shanghai Composite Index climbed 0.5 percent. SGX Nifty was at 4961.50 up 20.50 points (8:35 am IST).
U.S. stocks rose, as French banks eased concerns over their access to funding and investors watched for signs of progress in taming Europe’s debt crisis. The S&P 500 increased 0.9 percent to 1,172.87 at 4 p.m. in New York. The Dow Jones Industrial Average advanced 44.73 points, or 0.4 percent, to 11,105.85 today.
European stocks rose for the first time in three days, as banking shares and carmakers advanced. The U.K.’s FTSE 100 Index advanced 0.9 percent, Germany’s DAX Index jumped 1.9 percent and France’s CAC 40 Index rallied 1.4 percent.
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