Market Outlook: Indian equity markets may have flat to positive opening today as recovery seen ion the Asian peers. Nifty has supports at 3400- 3430 and resistances are at 3530-3550. Market may remain choppy ahead of settlement. The Implied Volatility is expected to trend higher in May. Banking stocks may continue to be in focus. The earnings so far have been mixed. Consensus is that we may see a correction after the election results.
Nifty Outlook: Pivot Point: 3474
R1: 3513, R2: 3556, R3: 3595
S1: 3431, S2: 3392, S3: 3349
Results today: Firstsource, GSK Pharma, Hexaware, IDFC, India Info, Shree Cements, Sterlite Industries, Aditya Birla Nuvo, Alfa Laval, Allied Digital, Avaya Global, Aventis Pharma, Biocon, BOC India, Cadila, Central Bank, Cholamandalam DBS, CRISIL, Genus Power, Gillette India, Grindwell Norton, ING Vysya Bank, Jubilant Organosys, Mahindra Ugine, P&G, Syndicate Bank, Tata Elxsi, Thomas Cook, Transformers & Rectifiers, United Breweries, UTV Software, Vijaya Bank, Zandu Pharma, Kalindee Rail
Indian ADRs: ICICI Bank up 2%, Tata Motors down 2%, Infosys, HDFC Bank down 1%
On the global front: Wall Street ends lower; Dow down 51 points while Asian markets trading mixed; Hang Seng up. The US markets retreated from a mid-session rally and ended lower on worries that the Swine-Flu outbreak could derail the economic recovery. But drug makers and pharmacies advanced. American depositary shares of Glaxosmithkline ADR gained 7.5 percent, as the UK drug maker, along with Switzerland's Roche were expected to be the two main beneficiaries from the need for a Swine Flu vaccine. At closing bell, the Dow dropped 0.6 percent. The S&P 500 fell 1 percent and the NASDAQ skidded 0.9 percent.
Nifty Outlook: Pivot Point: 3474
R1: 3513, R2: 3556, R3: 3595
S1: 3431, S2: 3392, S3: 3349
Results today: Firstsource, GSK Pharma, Hexaware, IDFC, India Info, Shree Cements, Sterlite Industries, Aditya Birla Nuvo, Alfa Laval, Allied Digital, Avaya Global, Aventis Pharma, Biocon, BOC India, Cadila, Central Bank, Cholamandalam DBS, CRISIL, Genus Power, Gillette India, Grindwell Norton, ING Vysya Bank, Jubilant Organosys, Mahindra Ugine, P&G, Syndicate Bank, Tata Elxsi, Thomas Cook, Transformers & Rectifiers, United Breweries, UTV Software, Vijaya Bank, Zandu Pharma, Kalindee Rail
Indian ADRs: ICICI Bank up 2%, Tata Motors down 2%, Infosys, HDFC Bank down 1%
On the global front: Wall Street ends lower; Dow down 51 points while Asian markets trading mixed; Hang Seng up. The US markets retreated from a mid-session rally and ended lower on worries that the Swine-Flu outbreak could derail the economic recovery. But drug makers and pharmacies advanced. American depositary shares of Glaxosmithkline ADR gained 7.5 percent, as the UK drug maker, along with Switzerland's Roche were expected to be the two main beneficiaries from the need for a Swine Flu vaccine. At closing bell, the Dow dropped 0.6 percent. The S&P 500 fell 1 percent and the NASDAQ skidded 0.9 percent.
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