Monday, January 12, 2009

Indian markets are expected to open in negative zone tracking cautious cues from the global front

Market Outlook: Indian markets are expected to open in negative zone tracking cautious cues from the global front & Indian space likely to remain range bound between 2692-3051 for this week. The range can shift higher if there are positive surprises in the earnings season. We may see selective buying at lower levels but the overall sentiment remains cautious.

Nifty Outlook: Pivot level: 2871

S1: 2812, S2: 2751, S3: 2692

R1: 2931, R2: 2990, R3: 3051

Stocks in news: Satyam, RIL, Sun Pharma & Chettinad Cement

RIL: R1: 1211. R2: 1268, R3: 1327, S1: 1094, S2: 1036, S3: 978

Oil Min source says Reliance Industries (RIL) to start D6 gas output by Feb-end

Satyam to be in most action: Trading range to be Rs 8 to 35

Note: NYSE May Resume Trading In Satyam Today. Satyam scam: -Stock removed from NSE F&O segment, all contracts to expire on Jan 29 -New board constituted: Deepak Parekh, Kiran Karnik, & C Achuthan -New board to discuss change in management today: Sources -Second round of expansion of board likely: Srcs -11 Law Firms Have Filed Class Action Lawsuits Against Co

Sun Pharma: R1: 1129, R2: 1159, R3: 1204, S1: 1054, S2: 1010, S3: 980

Sun Pharmaceutical extends tender offer closing date for Taro to Jan 30

Chettinad Cement: R1: 442, R2: 484, R3: 509, S1: 375, S2: 350, S3: 308

Chettinad Cement board calls off rights issue

Stock in Action on News: Unitech, Bajaj Auto, PFC, REC & Oracle Fin

Unitech in talks with PSU Banks for Rs 800 cr loan rejig, debt of Rs 2500 cr due for payment in March 09

ADAG in talks to sell minority stake in insurance distribution biz to UK based THB for Rs 250-300 cr

Bajaj Auto to launch new XCD 135 cc bike on Jan 21

Chinese co outbids OVL for acquiring 30% stake in an oil block in Angola

PFC, REC may get to raise Rs 20,000 cr via tax free bonds for power projects

Oracle Fin gets mega deal for ICICI BK to implement its risk management solution Reveleus

Vijaya Bank Cuts BPLR By 50 bps To 12.75% Effective From Today & Central Bank reduces BPLR by 75 bps to 12.5% from today


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