Nifty tipped to touch 10K-mark amid flat opening

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Equity tips:-
 
  • Indian markets are likely to open on a flat note with positive bias on Tuesday, tracking subdued cues prevailing across Asian markets. The SGX Nifty, which was trading at 9,973 up by 10 points, also indicated flat opening for the local indices. 
  • Nifty50 managed to cross the hurdle zone of 9,930-9,940 on a closing basis. Now, going forward, the level of 10,000, which a key psychological level, may act as a resistance level. On the other hand, the level of 9,920-9,930 will not act as an important support level for Nifty50. 
  • Key results for the day: Asian Paint, Axis Bank, Bharti Airtel, Hero Motocorp, Raymond and VEDL.
  • Back home, Indian benchmark indices, BSE Sensex and Nifty settled at record closing highs on Monday, led by index heavyweights Reliance Industries, TCS and HDFC Bank. The benchmark Nifty was within striking distance from touching the magical mark of 10,000.
  • The US stocks showed lack of direction over the course of the trading session on Monday and ended the day on a mixed note. The Dow and the S&P 500 closed modestly lower, but bucking the trend, tech-heavy Nasdaq posted a record closing. The Nasdaq Composite Index closed at 6,411 up by 23 points. The Dow Jones Industrial fell 67 points to close at 21,513 and the S&P slipped 3 points to 2,470.
  • Asian markets are trading subdued in early trade on Tuesday. Hong Kong's Hang Seng has advanced 25 points. China’s Shanghai Composite has dipped 1 point and Japan’s Nikkei 225 has edged down 13 points.
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Location: India

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