BOR: Market Outlook: Indian markets will have flat to positive opening today on the back mixed performance in the global peers

Market Outlook: Indian markets will have flat to positive opening today on the back mixed performance in the global peers wherein Wall Street ends flat; banking stocks gain & Asia trading mixed; Hang Seng up, Nikkei down. Nifty has major supports at 4100 -4140 and resistances are at 4330-4350. Market may remain volatile ahead of settlement.

Nifty Outlook: Pivot Point: 4219

R1: 4295, R2: 4343, R3: 4419

S1: 4171, S2: 4095, S3: 4046

F&O cues: Nifty rollover at 29%

Results today: ONGC, Sun TV, Visa Steel

On the global front: Wall Street ends flat; banking stocks gain & Asia trading mixed; Hang Seng up, Nikkei down. After a day of deep losses, Wall Street ended Tuesday trade flat. Stocks had opened higher, but faltered after a report showed home sales rose but not as much as expected. Bank stocks were mostly higher after taking a hit yesterday. Bank of America and JP Morgan gained 2% each in trade. Meanwhile, US treasuries rallied as investors positioned themselves ahead of the Federal Reserve’s statement, which will be released today. The Dow slipped 16.10 points, or 0.2%, to 8,322.91. The S&P 500 index rose 2.06 points, or 0.2%, to 895.10, and the NASDAQ composite index fell 1.27 points, or 0.1%, to 1,764.92.

Stocks in action for the day: Punj Lloyd, RNRL, RComm, TCS, Educomp

RIL-RNRL (Reliance Industries-Reliance Natural Resources) exclusive: -RNRL asks RIL for settlement meeting -RNRL writes atleast 2 letters to RIL post judgement RNRL letter invites RIL for talks -RNRL letter asks RIL for date and time of talks -RNRL may not intervene in RIL-NTPC case

ADAG (Anil Dhirubhai Ambani Group): -ADAG and AT&T may explore talks for tie-up: Sources -ADAG and AT&T may look at equity deal in Reliance Communication.

Tech Mahindra: -Planning to raise at least Rs 500 crore via QIP (qualified institutional placement) -QIP proceeds to be used to retire high cost debt Vineet Nayyar says Tech Mahindra, Satyam may be merged in foreseeable future

TCS loses Rs 225 crore on e-governance deal, CVC (Central Vigilance Commission) spots anomalies in tendering process

GMR plans to initiates action against Kingfisher for default of payments

Jet Airways gets show-cause notice for tax liability of Rs 400 crore

Pearson to acquire 50% stake in Educomp vocational training arm for $17.5 million

LIC plans to invest Rs 40000 crore in equity in FY09-10

Bharati Shipyard says to revise Great Offshore open offer to above Rs 403/share

India Cements says to consider raising funds on June 27

AP Govt says it will take a decision on Hyderabad Metro Rail in the first week of July. (Currently is with Maytas)

Board meets today: Punj Lloyd on fund raising: Bharti gets FIPB (Foreign Investment Promotion Board) nod or DTH services.

F&O Cues:

Stock Futures add 5 cr shares in Open Int

Futures Open Int up by Rs 1478 crore, Options Open Int up by Rs 1020 crore

Nifty June Futures shed 27 lakh; July Futures add 37 lakh shares in Open Int

Nifty June at 1-point premium, July at 7-point premium

Nifty Open Int Put Call Ratio at 0.83 versus 0.84

Nifty Puts add 6 lakh; Calls add 13.7 lakh shares in Open Int

Nifty July 3800 Put adds 12 lakh shares in Open Int

Nifty July 4200 Call adds 7 lakh shares in Open Int

Nifty June 4200 Put sheds 6 lakh shares in Open Int

Nifty June 4400 Put sheds 5 lakh shares in Open Int

Nifty rollover at 29%

Stock Futures rollover at 34.5%