Trades Open Flat, Negative

The Indian markets have opened on a flat note after the rally seen over the last few days. The global markets were also seen in the red zone in the morning session. The Nifty opened with a negative bias of 13 points at 6142 and Sensex was 30 points lower at 20205. Both indices were down in the range of 0.28%-0.31%.

The advance-decline ratio is negative in the morning session. On the NSE, 553 shares are trading in gains and 747 shares are down.

Top 5 Nifty Gainers: Coal India is the top gainer so far, up by 1.8%. HCL Tech, Lupin, TCS and Sun Pharma are the other stocks that are higher.

Top 5 Nifty Losers: Tata Motors is the top loser this morning, trading down by 2.3%, followed by NTPC, Reliance Infra, Ranbaxy Labs and UltraTech Cement.

9 out of the 13 sectors are trading in the red zone. Auto is the top loser, down 121 points. Capital Goods have dipped by 60 points and Mid-Caps are down 38 points. Banks have also lost 40 points in the morning trading session.

On the global front, the Asian shares are showing a negative sentiment. The Hang Seng market is the strongest loser so far, down by 132 points and Nikkei is 19 points lower. Taiwan, KOSPI and Shanghai, though, are trading flat with a negative bias.

Buzzers: Coal India opened on a positive note and broke its stiff resistance at the Rs 305 level in the morning session. The stock has made a new high at Rs 308, and if it manages to break this level, we will see a further up-move to Rs 320.

BHEL opened higher and has broken a stiff resistance at Rs 200. If the stock manages to hold this position, we may see it go up to Rs 215.

The 6120-6140 levels will be a lakshman rekha for the Nifty. 6180 will be a major hurdle. If the index breaks and trades below this support level, we may see it move lower.