Nifty Opens Up, Struggles On 5700 Mark

The Indian markets opened on a positive note as the Asian markets are trading in a green zone in the morning. Nifty opened with a positive bias of 10 points at 5701 and Sensex is up by 10 points at 18,870. Both the indices opened up in the range of 0.13%-0.07%.

The advance-decline ratio is balanced in the morning trading session. On the NSE, 651 shares are trading in green and 625 shares are trading in red. 

Top 5 NSE Gainers: Bharti Airtel is the top gainer on NSE, trading up by 3.6%, followed by Jindal Steel, ICICI Bank, UltraTech Cement, and Siemens.

Top 5 NSE Losers: Tata Motors is the top loser trading down by 2.5%, followed by Reliance Infra, NTPC, M&M, and Bajaj Auto. 

All the sectors are trading in green apart from Oil & Gas and Auto. Auto is down by 121 points, Oil and Gas is down by 30 points, and Metals is up by 35 points. The Bankex is up by 42 points, while IT is up by 28 points.  

On the global front, the Asian shares are trading with a positive sentiment. Hang Seng is positive by a point, Taiwan Weighted is up by 36 points and Shanghai Composite is up by 9 points. The Nikkei 225 market is up by 148 points. 

Buzzers: Tata Motors is trading down by 4.7% at Rs 273. The stock is losing strength and is trading below the supports level of Rs 280 from the morning session. It has a good support at this level. After this level is crossed, we will see further moves from the current levels.   

ONGC saw a good momentum in the last few trading days. The stock opened on a negative note at 1.2% and is trading at Rs 298. The stock is having good support at Rs 295. We can see more moves if it breaks this level. 

The levels of 5680-5660 will be the limit for Nifty. Nifty will have a major hurdle at 5740. If it breaks this level and trades above it, we may see a further up-move after here.