BOR: Market Outlook: Indian markets may have positive opening today on the back of positive cues from the global space.

Market Outlook: Indian markets may have positive opening today on the back of positive cues from the global space. Overseas markets posted decent gains after the US Federal Reserve pointed that the economy is on recovery mode. Nifty has supports at 4380-4400 and resistances are at 4530-4580. Overall outlook for the markets today is that of cautious optimism as the overseas cues indicate a pullback probability. The Nifty spot must remain above the 4430 hurdle for a fresh upthrust.

Nifty Outlook: Pivot Point: 4430

R1: 4501, R2: 4544, R3: 4615

S1: 4386, S2: 4315, S3: 4272

On the global front: US mkts gain on Fed's positive statement; Dow up 120pts & Asian markets trading firm; Hang Seng, Nikkei up. The US markets rallied on the back of an improved outlook from the Fed and an encouraging housing report. The Federal Reserve kept its benchmark short-term interest rates steady near zero as expected and said it would likely stay there for an extended period. The fed said it will extend to the end of October a program to buy longer-term government securities. It was positive news on economic front as well for the US economy. Existing-home sales rose 3.8%. However, mortgage applications fell 3.5%, as rising mortgage rates depressed refinancing demand. The Dow gained 120.16 points, or 1.3%, to 9,361.61. The S&P 500 index added 11.46 points, or 1.2%, to 1,005.81, while the Nasdaq Composite Index gained 28.99 points, or 1.5%, to 1,998.72

Stocks in action for the day: Unitech, Mah Satyam, Rallies India, L&T

MSCI adds Unitech, Mahindra Satyam to global standard indices

Power Ministry: -Price decided by EGoM (empowered group of ministers) has no relation to RIL-NTPC case-Unaware of legal advise to NTPC on gas dispute with RIL -Increasing planned UMPPs in first phase to 13 from 9

NHPC IPO final book: -Overall 23 times; QIB 29 times; HNI 57 times Retail 3 times -Enam garnered 52% or $11 billion of QIB book

Tata Chemicals: -To increase stake in Rallis India by acquiring shares from other promoters -To buy up to 35.8% stake at maximum Rs 850 a share in Rallis India via inter-se transfer ((Rallis India CMP Rs 737)) -To buy stake in Rallis India from promoters including Tata Tea –Alerts -Tata Tea holds 24.5% stake in Rallis India ((Tata Tea goes ex-dividend today @ Rs 17.50)) -Company holds 9.4% stake in Rallis India -No open offer needed as it would be promoter inter-se transfer

Adlabs Films board approves: -Raising up to Rs 600 crore via rights issue -Promoters to subscribe to unsubscribed portion

Jaypee Group & L&T: -Sign contract for super critical equipments -Rs 4000 crore contract for super thermal project

Swine Flu Impact: -Multiplexes cannot claim losses due to closure -Multiplexes cannot claim losses under business interruption

Nalco hikes aluminium price by Rs 6,000-7,000/tonne:

Orbit Corporation to raise $20-30 million via QIP at Rs 185/share: Sources

Dalmia Cement to up capacity to 35 million tonnes, has floated 100% subsidiary

Jindal Saw: Anbeeco Investments not to convert 27.3 lakh warrants @ Rs 308 ((CMP Rs 516))

PSL bags Rs 500 crore pipes order from GAIL

Deep Industries allots 35 lakh convertible warrants @ Rs 58 to promoters ((CMP Rs 84.6))

Prime Securities: Investors let 6 lakh convertible warrants lapse ((issued at Rs 275 a share in 2008, CPM Rs 30))

2.79 crore Punj Lloyd shares to hit the market on August 13 ((QIP issue))

1.84 crore Lanco Infra shares to hit the market on August 13 ((QIP issue))

Board meets: Riga Sugar on issue of shares / warrants

Ex-rights: WWIL @ 109:100

Ex-dividend: HPCL @ Rs 5.25, Tata Tea @ Rs 17.50

F&O cues: Total Futures Open Interest up by Rs 790cr

Total Options Open Interest up by Rs 1647 crore

Nifty down 0.3%, Futures Open Interest up 3%

Nifty August Fut trading at 3-pts prem versus 7-pt discount

Nifty IVs 36-38%

Nifty Open Interest Put Call Ratio up from 0.91 to 0.92

Nifty Puts add 17.5 lakh shares in Open Interest

Nifty Calls add 16.1 lakh shares

Nifty 4400 Call adds 5.4 lakh shares in Open Interest

Nifty 4500 Call adds 3.8 lakh shares in Open Interest

Nifty 4200 Put adds 3.6 lakh shares in Open Interest

Nifty 4300 Put adds 3.3 lakh shares in Open Interest

Stock Futures add 2.5 cr shares in Open Interest