>Opening Bell (ICICI Direct)

● Indian markets are likely to open flat, taking cues from global markets. Asian markets were trading mixed in the morning after US markets ended flat to negative. US markets fell after American Express showed defaults in credit cards. Our markets need to sustain above 9200-9300 levels to trigger another round of short covering. We advise against taking aggressive trading positions at these levels

● The Sensex has supports at 8800 and 8610 and resistances at 9115 and 9210. The Nifty has supports at 2750 and 2710 and resistances at 2805 and 2840

● Asian markets were trading positive in the morning session. We will take cues from the Asian markets in the morning trade and look for cues from European markets in the afternoon

● US stocks were trading strong in early trade but gave up all the gains during the close. We saw profit booking in all three indices after a bounce of almost 10% from the lows in three trading sessions mostly lead by short covering. Most of the global markets rallied after the US markets saw some sign of relief

● Stocks in news: Videocon, Mercator Lines, HCL Tech

To see full report: OPENING BELL 17-03-09