Market Outlook: Indian equity markets may have flat opening today and trade in ranged manner following to the mixed performance in global markets. Nifty has supports at 3250- 3300 and resistances are at 3400-3450. Market is expected to remain choppy on the day of F&O settlement. Overall outlook for the markets today is that of choppiness due to a long weekend and expiry related considerations.
Nifty Outlook: Pivot point: 3439
R1: 3439, R2: 3515, R3: 3559
S1: 3318, S2: 3274, S3: 3198
Major Results today: Bharti Airtel, Dabur India, Aptech, MTNL, Nagarjuna Fertilizer, Orbit Corporation, Patni Computer, Shopper's Stop, Titan, United Breweries, Videocon Industries, Aftek, Alok Industries, Alstom Projects, Apollo Tyres, Astra Microwave, Bank Of India, Bharati Shipyard, Canara Bank, Carborundum, Ceat, Dena Bank, Elder Pharma, Emami, Garware Offshore, Geodesic, Gujarat Ambuja Exports, GVK Power, ICSA, IL&FS Investsmart, Ind-Swift, Ingersoll-Rand, Karuturi Global, KEC International, LML, Moser Baer, Mysore Cements, Nirma, PBA Infra, RSWM, Ruchi Soya, Sterling Biotech, Suven Life
Indian ADRs: Satyam down 4%, ICICI Bank down 2%, Tata Motors, HDFC Bank down 1%
On the global front: US markets end flat after a choppy session while Asian markets trading firm; Hang Seng up. US markets ended flat after a choppy session on back of worries that two banks may need more capital. The concerns overshadowed an increase in consumer confidence data. Swine Flu outbreak weighs on commodity universe as well. Crude continued below USD 50 per barrel for a third day after volatile New York trade on concerns that fuel demand will drop as the outbreak curtails travel and delays a recovery from the global recession. The Dow Jones was down 8.05 points, or 0.1%, to 8,016.95. The S&P 500 index fell 2.35 points, or 0.3%, to 855.16, and the NASDAQ composite index fell 5.60 points, or 0.3%, to 1,673.81.
Nifty Outlook: Pivot point: 3439
R1: 3439, R2: 3515, R3: 3559
S1: 3318, S2: 3274, S3: 3198
Major Results today: Bharti Airtel, Dabur India, Aptech, MTNL, Nagarjuna Fertilizer, Orbit Corporation, Patni Computer, Shopper's Stop, Titan, United Breweries, Videocon Industries, Aftek, Alok Industries, Alstom Projects, Apollo Tyres, Astra Microwave, Bank Of India, Bharati Shipyard, Canara Bank, Carborundum, Ceat, Dena Bank, Elder Pharma, Emami, Garware Offshore, Geodesic, Gujarat Ambuja Exports, GVK Power, ICSA, IL&FS Investsmart, Ind-Swift, Ingersoll-Rand, Karuturi Global, KEC International, LML, Moser Baer, Mysore Cements, Nirma, PBA Infra, RSWM, Ruchi Soya, Sterling Biotech, Suven Life
Indian ADRs: Satyam down 4%, ICICI Bank down 2%, Tata Motors, HDFC Bank down 1%
On the global front: US markets end flat after a choppy session while Asian markets trading firm; Hang Seng up. US markets ended flat after a choppy session on back of worries that two banks may need more capital. The concerns overshadowed an increase in consumer confidence data. Swine Flu outbreak weighs on commodity universe as well. Crude continued below USD 50 per barrel for a third day after volatile New York trade on concerns that fuel demand will drop as the outbreak curtails travel and delays a recovery from the global recession. The Dow Jones was down 8.05 points, or 0.1%, to 8,016.95. The S&P 500 index fell 2.35 points, or 0.3%, to 855.16, and the NASDAQ composite index fell 5.60 points, or 0.3%, to 1,673.81.
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