>Daily Market & Technical Outlook (ICICI Direct)

Market outlook

* Indian markets are likely to open flat to negative, taking cues from global markets. Asian markets were trading mixed in the morning as US markets closed flat after remaining volatile throughout the day. The rupee is expected to edge lower on Thursday, a day after it snapped a four-day losing streak, weighed down by mostly weak Asian currencies and mixed regional stocks

* Inflation for the week ended April 11 is expected at 0.09% as against 0.18% last week

* The Sensex has supports at 10680 and 10600 and resistances at 10920 and 11000. The Nifty has supports at 3290 and 3260 and resistances at 3360 and 3390

* Asian stocks were mixed, as finance companies dropped after Morgan Stanley reported a wider-than-forecast loss and US banks slid on concerns government stress tests will reveal weakness. The Nikkei fell 40.7 points, or 0.5%, to trade at 8,686.6. The Hang Seng rose 36.1 points, or 0.2%, to trade at 14,914.5

* The Dow and S&P fell on Wednesday after Morgan Stanley revived concerns about the banking sector and the wider economy after it posted its second straight quarterly loss and slashed its dividend. The Dow Jones dropped 82.99 points, or 1.04%, to 7,886.57. The S&P 500 slid 6.53 points, or 0.77%, to 843.55. The Nasdaq gained 2.27 points, or 0.14%, to 1,646.12

* Stocks in news: L&T, Amtek Auto, JSW Steel, RIL, Micro Technologies.

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