Check out: Market outlook for today

Myiris news bureau has collated views of brokers on how the market will perform today, Feb. 12, 2013. The same are as follows:

Mohit Gaba:

The Nifty had a strong up day; it gapped up and continued to trade higher during the day closing at the high of the day. I had mentioned that we could expect an upward reaction the prior day; however an up move this strong was not expected. It makes me think that this could be a start of a fresh up move given the force with which the Nifty continued to move up and with even more support from the Bank Nifty. We would have closed our short position seeing the Nifty gap up and open at 5,294 thus higher than our stop loss at 5,270 and would have initiated fresh long positions, we should continue holding those long positions with a stop loss at 5,290.

Prashant Tapse, Mehta Equities:

Indian markets are expected to open on a soft note tracking muted Asian markets, while domestic investors will keep a close eye on industrial production data for the month of December which is due today. Market consensus expects IIP data for the month of December is likely to grow by 1.3% in December as compared to 0.1% in the month of November.

ICICIdirect:

The Sensex closed at 19,460.6, down by 24.2 points while the Nifty ended at 5,897.9, down by 5.6 points. The Sensex has supports at 19,410 and 19280 and resistances at 19,540 and 19650. The Nifty spot has supports at 5,875 and 5,845 and resistances at 5,920 and 5,955.

Way2Wealth Securities:

In absence of any major clues from global markets, today markets are expected to open on flat note and thereafter Niftywill continue to trade in narrow band of 20-30 points with no clear direction. However, overall markets are looking weak and any short covering rally towards 5,960 should be used as exit opportunity from longs.

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