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Pre-Market: Nifty may see a flat start

SI Reporter Mumbai

The Sensex may open flat as Asian markets are trading mixed and SGX Nifty too is marginally higher by six points at 5762.

"Technically the market is still weak and the next technical target in 5833.The market has seen a low at very strong technical support of 5738 and if that goes then 5688 is not ruled out", says Prakash Gaba, a Mumbai based technical analyst.

In the Asian markets, Hang Seng, Jakarta Composite and Taiwan Weighted are the only indices in the green, trading up 0.1% each. On the other hand, Japan's Nikkei average lost 0.2% backing away from an eight-month closing peak hit last week, as investors worried that Portugal may be the next eurozone member forced to seek a bailout.

KLSE Composite, Straits Times and Seoul Composite lost between 0.1% - 0.3%. Shanghai Composite was the biggest loser, trading down 0.6%

The stocks to watch for the are are Hexaware, telecom scrips and sugar stocks. Reliance, IVRCL Infrastructure and Hindustan Dorr-Oliver are also in the spotlight.

 

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First Published: Jan 11 2011 | 8:32 AM IST

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