Markets Open Positive, Nifty Above 6200

The Indian markets have been opening on a positive note for the last few days, with the global markets also seen in the green zone. The Nifty opened with a positive bias of 33 points at 6218 today, and Sensex was 124 points up at 20410. Both indices were higher in the range of 0.49%-0.61%.

The advance-decline ratio is positive in the morning session. On the NSE, 815 shares are trading in gains and 519 shares are down.

Top 5 Nifty Gainers: Tata Motors is the top gainer so far, up by 3.57% followed by Maruti Suzuki, Coal India, Bank of Baroda and Bajaj Auto.

Top 5 Nifty Losers: Lupin is trading down by 3.8% as of now. Ranbaxy Labs, Kotak Mahindra, ONGC and Dr Reddy’s Labs are the others in negatives.

Only 2 of the 13 sectoral indices are trading in the red zone. Auto is top gainer up by 280 points, followed by Metals up by 92 points and Oil & Gas which is 50 points higher. Banks and PSU have also gained 48 points and 45 points respectively in the morning session.

On the global front, the Asian shares are trading positive. The Hang Seng market is the top gainer for today’s session, up by 400 points and Nikkei is higher by 204 points. Taiwan, KOSPI and Shanghai are showing mixed trades.

Buzzers: Tata Motors opened with a positive sentiment and has broken its stiff resistance of Rs 310 in the morning session. The stock made a new high at Rs 316.20, and if it manages to break this level, we could see a further upward move up to Rs 325.

Another auto stock, Maruti Suzuki also opened positive and broke its stiff resistance at Rs 1760. If it manages hold this position, we will see a further move up to Rs 1800.

The 6200-6220 levels will be a lakshman rekha for the Nifty. 6245 will be a major hurdle. If the index breaks and trades above this resistance level, we may see a further up-move.