It is a steady start for the market on the second day of this eventful week. Trade balance data (March), IIP numbers (February) and Infosys earnings (Jan-Mar quarter) are all slated to be announced this week.

Cues from the global share markets are also supportive. Asian shares are trading in green while US and European markets ended with decent gains. The Sensex is up 75 points at 18515 and the Nifty is up 35 points at 5577.

Technical Analyst, Sudarshan Sukhani recommends traders to close out intermediate short positions. He advises to go long in the Nifty above 5575 with a stop loss of 5535.

Cairn India, Tata Motors, Jaiprakash Associates, DLF and Ambuja Cements are top gainers on the Nifty. Dr Reddys Labs, Bharti Airtel, Infosys, Ranbaxy Labs and Sun Pharma are top losers.

Wipro is trading 8 percent lower post demerger. The company’s non IT business which is a combination of Wipro Consumer Care and Lighting, Medical Equippments and Wipro Infrastructure Engineering would be transferred to an unlisted private entity called Wipro Enterprises.

Morgan Stanley has upgraded Reliance Communications to “overweight” from “equal-weight”. The broking firm has revised earnings estimates upwards by 125 percent. The Supreme Court has postponed the 2G trial court summon issued to Sunil Mittal’s appearance in court to April 16. Mittal is the chairman and managing director of Bharti Airtel. The stock is down 1 percent.