Indian equity markets are likely to open higher on Wednesday, following the rally on Wall Street overnight and positive sentiment prevailing in the Asian markets. The SGX Nifty, which was trading higher by 30 points at 9,819, is signalling positive start for the day.
Now, going forward, Nifty50 has immediate support around the level of 9,730 and major support is placed around the level of 9,685 which is the recent swing low, and if this swing low is breached, then it may head towards the levels of 9,630-9,600. On the other hand, 9,830 and 9,870 will act as stiff resistance levels.
Back home, Indian market registered small gains on Tuesday after registering losses in the preceding two trading sessions. The BSE Sensex advanced 33 points to finish at 31,292 while the NSE Nifty climbed 11 points to close at 9,766.
