Pre-market: Markets likely to open with a positive bias

The Indian markets could open with a positive bias today tracking global cues. Analysts expect most Asian markets to move higher on Tuesday, following the European bourses in a technical rebound after heavy selling pressure last week. Germany's DAX rose 2.89 per cent, while the CAC 40 added 1.98 per cent on Monday.

Many of the regional bourses were closed on Monday for the New Year holiday, including Australia, China, Hong Kong, Japan, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. Most of these will return to action on Tuesday, although New Zealand, China and Thailand remain closed until Wednesday.

Back home, technical analysts say that the Nifty is likely to face resistance around 4,660 – 4,675, and may seek support around 4,615 – 4,600 levels. At 720 am Indian Standard Time, the SGX Nifty was trading at 4,673 levels; up 22 points.

Among individual stocks, oil marketing companies could be in focus today on reports that petrol prices will not be raised this fortnight as state-owned oil firms apparently could not get political clearance for the same.

Also keep a tab on IVRCL and L&T that bagged orders worth 732 crore and 2,056 crore, respectively.

Two-wheeler stocks could remain in focus today after they were hammered badly after reporting lower-than-expected sales figures for December 2011.

Cement stocks could also be in limelight today as they report sales figures for the December.