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Indian market Today 12-Dec

The Indian market opens the first trading day of the week on a positive note. On Friday, the US markets ended higher with the Dow up 186 and Nasdaq up 50 odd points while Asia is in the green at this hour. Sensex is trading at 16312, up 98 points from its previous close, and Nifty is at 4894, up 27 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.1%. The market breadth is positive with advances at 393 against declines of 108 on the NSE.

The pre-opening session of the market begins with the Nifty and Sensex indicating a positive start today. The SGX Nifty is at 4909, up 27 points.

The structure of the market is negative in the short term and one should use all rallies to go short. Sell on rise to 4950-4930 with a targets of 4815 and then 4775.

The market is likely to open marginally higher but unlikely to close very positive. For the day, the market should stay positive above 4875 and for the week the level to watch out for is 4935. resistances at 4909 and 4952 with supports at 4875 and 4832.

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