The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 44 points loss.
The BSE Sensex climbed 307.66 points to close at 51,422.88 on May while the Nifty50 rose 97.80 points to 15,435.70 and formed a Doji kind of pattern on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 15,397.1, followed by 15,358.5. If the index moves up, the key resistance levels to watch out for are 15,472 and 15,508.3.
US stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading, as both the Dow and S&P 500 indexes clinched their first weekly gain in the past three weeks.
The Dow Jones Industrial Average rose 64.81 points, or 0.19%, to 34,529.45, the S&P 500 gained 3.23 points, or 0.08%, at 4,204.11 and the Nasdaq Composite added 12.46 points, or 0.09%, at 13,748.74