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Morning Update ( 05.01.2009 )
Major Asian markets are trading positive with Nikkei, Hang Seng and Straits Times being up 2.1%, 1.3% and 1.7% respectively. U.S. markets closed strong on Friday with Dow and Nasdaq up by 2.93% and 3.5% respectively. Europe also closed higher with FTSE up by 2.88%. Indian markets closed strong on friday with higher volumes. Advance decline ratio of the BSE stood at 2.08. We expect markets to be positive today.Nifty has its support at 3023 and resistance at 3110. Corresponding levels for sensex are 9788 and 10070/10160.
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