Markets expected to open on a strong note

The Nifty failed to sustain itself above the strong resistance zone of 5,500-5,520 last week due to higher levels of profit-booking. The market is expected to re-test the 5,500 level as the SGX Nifty closed at 5,510 through the OTC facility of the Singapore Stock Exchange. The Dow Jones and S&P 500 and all the European markets closed on a bullish note on Friday, which hint at a strong opening for the Nifty and Sensex on Monday.

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