Market Outlook: Indian markets will have flat to positive opening today on the back of global support.

Market Outlook: Indian markets will have flat to positive opening today on the back of global support. Nifty has major supports at 4150 -4200 and resistances are at 4350-4375. Market is expected to trade in a range. Overall outlook for the markets today is that of caution as the weekend factor and the global cues may impact the buying support.

Nifty Outlook: Pivot Point: 4267

R1: 4312, R2: 4383, R3: 4429

S1: 4196, S2: 4150, S3: 4079

Market-wide rollover at 75% versus 77% last series: Nifty Rollover at 55% versus 63% last series (versus 74% in Apr series) Nifty Open Int PCR at 0.94 Nifty Puts, Calls add 27 lakh shares each in Open Int Highest Put Open Int at 4200 Put, 3800 Put and 4000 Put Highest Call Open Int at 4700 Call, 4800 Call and 5000 Call

Results today: Tata Motors, Glenmark, TVS Motor, Gujarat State Petronet, Great Offshore, Ansal Housing, FACT, DCM, BEML, Max India, Pyramid Saimira, Deccan Chronicle, Provogue, Aries Agro, Archies

Indian ADRs: ICICI Bank up 5%, HDFC Bank, Wipro, MTNL up 3%, Infosys, Tata Motors up 1%

On the global front: Wall Street advances; Dow up 172 points & Asian markets trading firm; Hang Seng, Nikkei up. In the US markets, the Dow finally reversed its losing streak and finished the session with impressive gains. Stocks opened lower after weekly jobless claims came in higher than expected. But strong demand for another treasury auction boosted confidence and markets rebounded. Good set of corporate earnings too helped the markets to bounce. In economic data initial jobless claims jumped by 15,000 to 627,000 last week, higher than the expected 6,00,000 continuing claims crept up to 6.74 million meanwhile, the economy contracted 5.5% in the first-quarter, according to the commerce department. The Dow rose 172.54 points, or 2.1%, to 8,472.40. The broader S&P 500 index rose 19.32 points, or 2.1%, to 920.26. The NASDAQ Composite Index rose 37.20 points, or 2.1%, to 1,829.54.

Stocks in action for the day: RIL, Shree Renuka, Sobha, Ranbaxy

Alert: Important changes today in Nifty:-Nifty to move to free-float methodology
-50 stocks to be removed from NSE F&O segment-Lot sizes for 143 F&O stocks to be reduced

RIL: -Sources say RIL willing to meet RNRL (Reliance Natural Resources)-Still disagrees on RNRL’s key terms for gas: Sources-Working on Supreme Court appeal: Sources
RIL says poor offtake hitting D6 gas output.

Tata Steel:-May sell Teeside plant in UK by August-Teeside plant may be mothballed by August if not sold-To reduce capex by $2 billion over next 3 years Tata Steel Q4 Consolidated -Net sales down 31% at Rs 24,788 crore verus Rs 36,057 crore-Operating loss at Rs 1,610 crore versus operating profit of Rs 5,225.5 crore-Net loss of Rs 4,385 crore versus net profit of Rs 2,072 crore

Tata Power: -To supply 500 MW to Reliance Infrastructure only until March 31-Reliance Infrastructure must find alternative source from April 1-May use 500 MW for own Mumbai distribution operations Tata Power forms JV with Tata Steel for 525 MW power plant for Corus in the Netherlands MERC told to review Reliance Infrastructure power tariff hike

Mint Exclusive: -Venugopal Dhoot to sell entire 3% stake in Great Offshore
Alert: Venugopal Dhoot says no plan to sell stake so far in Great Offshore, decision expected today

Shree Renuka Sugars: -QIP opens today, to raise nearly $100 million: Sources -Floor price at Rs 114/share; equity dilution around 10%

Board meets: -Karur Vysya Bank on QIP issue-Celebrity Fashions on issue of shares on pref basis -Pyramid Saimira on QIP, issue of convertible warrants to promoters

Index changes in Nifty Midcap 50 Index from today: -Inclusions: IDBI Bank, JSW Steel, United phosphorous, Cummins, Educomp -Exclusions: Bombay Dyeing, Mahindra Lifespace, Peninsula Land, Kesoram Ind, TVS Motor

Sobha in talks with PE firms to raise funds

Tech Mahindra says no decision on merger with Satyam

Suzlon bond holders approves amendments to existing bonds

Tata Communication bags BT’s $1.5 billion outsourcing deal

UB Group investment plan hits FIPB roadblock, revenue department objects to foreign loans through Mallya’s Mother’s firm

US advocacy group raises objections to Walmart importing drugs from Ranbaxy

GAIL okays Rs 7500 crore investment on Southern Gas Pipelines

IVRCL Infrastructure denies reports to divest stake in 3 BOT road projects to PE investors

Exclusive: SEBI says committee has rejected consent offer from Pyramid Saimira

Idea Cellular to meet creditors today for tower operations demerger

Rishabhdev Technocable to list on June 29, issue price Rs 33

Avery India buyback opens today, floor price Rs 75.65 ((CMP Rs 133))

RBI allows FIIs to buy shares of Network 18 Media as their holding goes below caution limit

Essar Oil comes out of NSE F&O curb

Mahindra Holidays IPO closes today, subscribed 0.86 times till now