Today Indian Markets are likely to open higher as most of Asian Markets are trading higher.On Tuesday,Sensex was up 1.47 percent up 140.36 points to close at 9,708.50 following cues from Asian markets.NSE closed the day 1.42 percent higher, to settle at 3,020.95.

Nifty has supports at 2980 and resistances are at 3050.There might be some profit booking.One can go short at higher levels.

Asian Markets opened entend gains on Wednesday following cues from U.S. markets with Japan's Nikkei 225 Average up 2.99 percent up 242.15 points at 8351.68.Hong Kong's Hang Seng Index up 1.1 percent up 148.66 points to 13724.68.

U.S. Markets closed higher on Tuesday.Markets closed off days high with Dow Jones industrial average closed up 1.16 percent up 86.90 points to settle at 7608.92.Nasdaq Composite Index closed up 1.78 percent up 26.79 points to settle at 1528.59.S&P 500 closed up 1.31 percent up 10.34 points to settle at 797.87.

FTSE 100 index closed gained 4.34 percent up 163.23 points to 3926.14,Germany's DAX closed up 2.39 percent up 95.53 points to 4084.76,France's CAC 40 gained 3.24 percent up 88.00 points to 2807.34.

Crude Oil is trading at $48.46 a barrel.
Wednesday,01 April 2009