BOR: Market Outlook: Indian markets will have flat to positive opening today.

Market Outlook: Indian markets will have flat to positive opening today. Nifty has major supports at 4000-4040 and resistances are at 4200-4230. Markets are expected to witness a relief rally. Overall outlook for the markets today is that of caution as the short covering and overseas cues may see some upticks, but sustainability of any rally is questionable right now as we expect Nifty likely to witness range of 4175-3975.

Nifty Outlook: Pivot Point: 4114

R1: 4166, R2: 4254, R3: 4307

S1: 4026, S2: 3973, S3: 2885

Results today: Gammon India, Praj Industries

Indian ADRs: Tata Motors, ICICI Bank down 7%, HDFC Bank, Infosys down 3%, Satyam up 2%

US markets end flat after a seesaw session while Asian markets trading mixed; Hang Seng down. The US markets ended flat after a seesaw session as investors rotated into defensive stocks. Also a white house budget official said the Obama administration is not discussing a second. On the economic front, some positive news came out of the housing sector. Demand for US mortgages rose 11% last week as mortgage rates again receded. The Dow Jones industrials rose 14.81 points, or 0.2%, to 8,178.41. The S&P 500 index fell 1.47 points, or 0.2%, to 879.56 and the NASDAQ Composite Index rose 1 points, or 0.1%, to 1,747.17.

Stocks in action for the day: SBI, NTPC, Ranbaxy, Lupin, RComm, IOL Net

SBI - SBI's non-life JV with IAG (Insurance Australia Group) gets regulatory approval. -SBI-IAG non-life JV likely to launch within 2 months

NTPC: -Plans redistribution of prior allocation -Will ensure cheap gas for 2 plants in Gujarat, not affect case with RIL

ISMA:-Government extends duty-free raw sugar import to March 31, 2010 -Alert: Duty-free raw sugar import scheme was to expire on August 1

Apotex questions Ranbaxy's ability to launch generic Aricept and Valtrex

Nestle, Takeda sue Lupin, Torrent over patent drug Oracea

Ashok Leyland to seek shareholder nod to raise up to Rs 750 crore

Hindustan Zinc: petition filed in SC against stake sale by govt withdrawn

Reliance Communication plea seeking clarification on TDSAT (Telecom Disputes Settlement and Appellate Tribunal) order dismissed:

IOL Netcom board approves rising up to Rs 250 crore

Bajaj Hindusthan still in NSE F&O curb

Board meets: Aegis Logistics to consider buy back

34.4 Crore Unitech shares to hit the market today ((QIP issue))

4.7 Crore HCC shares to hit the market today ((QIP issue))

2.5 Crore Sobha shares to hit the market today ((QIP issue))

Ex-dividend: M&M @ Rs 10