BOR: Market Outlook: Indian market may have flat to positive opening today on the back of mixed trend on the global space.

Market Outlook: Indian market may have flat to positive opening today on the back of mixed trend on the global space. Nifty has supports at 4350-4400 and resistances are at 4550-4600. Overall there is no sign of strength and if we get any bounce it would like to be a bounce as a dead cat bounce’. The market yet again unfolded as expected, we got a bounce and finally the market cracked towards the end, the pattern generated is a continuation pattern, which basically means that the market is still down.

Nifty Outlook: Pivot point: 4466

R1: 4533, R2: 4629, R3: 4696

S1: 4370, S2: 4304, S3: 4208

On the global front: Wall Street ends lower amid choppy trade while Asia trading mixed; Hang Seng down, Nikkei up. The US markets retreated after a choppy start as investors booked profits following a four-week rally. News flow was slow, in the absence of market-moving earnings announcements and no economic data. The Dow Jones Industrial Average was down 32.12 points, or 0.3%, to 9,337.95. The S&P 500 index fell 3.38 points, or 0.3%, to 1,007.10, while the Nasdaq Composite Index fell 8.01 points, or 0.4%, to 1,992.24.

Stocks in action for the day: Bharti, Sterlite, Tata Steel, Glenmark

Monsoon update: Planning Commission: -India facing worst drought since independence -Expect over 50% of country to be drought-hit

Met Department says: -August rains seen 90-95% of normal versus 101% previous estimates -June 1-August 8 rains 28% below normal

Bharti-MTN Deal: -Bharti investor moves SAT over SEBI guidance on MTN deal
Petition to SAT -Questions exemption of open offer by SEBI in guidance -Alert: Bharti-MTN deal triggers open offer; estimated worth Rs 45,000 crore -Says no open offer denies exit option to Bharti shareholders -Alert: Bharti said agreements will be struck with global depository -Says MTN will enjoy 25% voting rights via global depository -SAT may take up Bharti shareholder petition today

Bid for Asarco: -Sterlite raises bid to $1.58 billion from $1.1 billion -Grupo Mexico ups cash portion by $260 million; total bid at $2 billion

Tata Steel: -Plans to raise Rs 5000 crore via issue of securities in domestic, international market -To seek shareholder approval in AGM on August 27 Mint Exclusive: Tata Steel Says-To secure supply of 60% of raw materials by 2015-Presently has secure supply of 25% raw materials-To invest more in holdings in overseas mines-Evaluating several mineral projects in Brazil & Australia

Glenmark: -Nycomed, Forest Labs sign distribution agreement for Roflumilast -Forest to make upfront payment of $100 million to Nycomed plus milestones -Alert: Forest earlier licensed Oglemilast from Glenmark, paid $45 million

Kinetic Engineering: -Bags new order worth Rs 20 crore for Nano project -Bags order worth Rs 40 crore from European manufacturer: Kinetic Engineering -To sell non-core assets at Pune for Rs 44 crore

GMR eyes London listing for holding company, a step towards building $10bn global assets portfolio

Fortis Healthcare board approves rights issue @ Rs 110, ratio 2:5 ((plans to raise up to Rs 1000 crore))((Rights issue to open in September first week:))

Petronet LNG signs gas supply agreement with Exxon Mobile

BOC India bags order from Jindal Stainless for installation of air separation unit

Board meets: FCS Software on stock split, FCCB / ADR / GDR issue

Ex-rights: Piramal Glass @ 7:2

F&O cues: Total Fut Open Int up by Rs 48 crore

Total Fut Open Int up by Rs 48 crore

Total Options Open Int up by Rs 1375 crore

Nifty Aug Fut trading at a 12-pt disc versus 1-pt disc

Nifty down 1%, Futures Open Int up 4%

Nifty Open Int Put Call Ratio down from 0.91 to 0.86

Nifty IVs at 37-38%

Nifty Puts add 2.3 lakh

Nifty Calls add 20.7 lakh shares in Open Int

Nifty 4500 Call adds 6 lakh shares in Open Int

Nifty 4600 Call adds 3.1 lakh shares in Open Int

Nifty 4400 Put adds 3.9 lakh shares in Open Int

Nifty 4500 Put adds 2.6 lakh shares in Open Int

Stock Futures adds 1 cr shares in Open Int