Monday, August 17, 2009

BOR: Market Outlook: Indian markets may have flat to negative opening today on the back of global sentiments trading weak

Market Outlook: Indian markets may have flat to negative opening today on the back of global sentiments trading weak as Dow ends down 76 points & Asia trading weak; Hang Seng, Nikkei, Straits Times down 2%. Nifty has supports at 4450-4500 and resistances are at 4650-4730. Next logical targets on the way down after a close below 4450 on the Nifty are at 4250-3950 and resistance to the up move is at 4749. From a trading point of view we would be cautious on the long side as we have a strong resistance to deal with.

Nifty Outlook: Pivot Point: 4586, R1: 4612, R2: 4645, R3: 4672, S1: 4553, S2: 4526, S3: 4493

On the global front: Wall Street declines; Dow ends down 76 points & Asia trading weak; Hang Seng, Nikkei, Straits Times down 2%. Wall Street witnessed a broad based decline as stocks slid snapping a four-week winning streak. A disappointing report on consumer sentiment sent the benchmark indices in the red but they closed off lows. The Dow Jones Industrial Average fell 76.79 points, or 0.8%, to 9,321.40. The S&P 500 index fell 8.64 points, or 0.9%, to 1,004.09, while the Nasdaq Composite Index fell 23.83 points, or 1.2%, to 1,985.52.


Stocks in action for the day: Provogue India, Prism Cement, NTPC, HCL Info, TCS, Wipro

RIL: -RIL writes to Power Ministry on GSPA with NTPC:-NTPC board approves filing SLP in SC: -NTPC asks Power Ministry to seek changes to govt affidavit: Sources

RIL to Oil, Power Secretary: -Have resolved all issues with NTPC-NTPC awaiting internal approval for signing GSPA: Srcs

Bharti Airtel IT contract - Exclusive: Sources -4 Indian IT majors shortlisted for Bharti Airtel IT contract-Shortlisted companies include TCS, Wipro, IBM, Tech Mahindra -Bharti Airtel's IT contract valued at $500 million: Sources

HCL Info board approves: -Issue of convertible warrants up to Rs 325 crore to promoters -FCCB / ADR / GDR / QIP issue up to Rs 500 crore

Prism Cement board approves -Merger of H&R Johnson and RMC Readymix with itself -Swap ratio of 124 Face Value (FV) Rs 10 shares of company for 1 of H&R Johnson FV Rs 100 -Swap ratio of 73 shares of company for 100 of RMC Readymix ((both FV Rs 10))

ICVL - -ICVL in talks to acquire stake in US coal producing major-ICVL owned by NTPC, SAIL, Coal India, RINL & NMDC -ICVL stands for International Coal Ventures Limited

Tata Steel investors brace for loss as convertible preference shares come up for conversion ((Investors were issued 6 CCPS to be converted into 1 equity share))

Tata Motors to invest Rs 8000 crore in capex and product development in next 3-4 years


Quippo to take equity route to raise Rs 900 crore, SREI infra, IDFC PE and Oman fin to subscribe to issue:

ONGC rings DoT for spectrum to setup own communication network:


Berger Paints board approves issue of up to 72 lakh shares on pref basis to Nalanda India Fund ((issue price to be decided today, CMP Rs 47.85 a share))

Provogue India board approves buy back up to Rs 50 crore at maximum Rs 100/share ((CMP Rs 65.2))


KSK Energy board approves issue of preference shares up to Rs 2000 crore


Bengal & Assam Company to resume trading ((after amalgamation)) ((This has nothing to do with the other listed Assam Co))


Oil PSUs hike ATF prices by 4.5%


Board meets: MVL on stock split

F&O cues: Total Futures Open Int down by Rs 834 cr

Total Options Open Int up by Rs 900 crore

Nifty up 0.5%, Futures Open Int down 3.6%

Nifty August Fut trading at 5-point discount

Nifty Open Int Put Call Ratio at 1.01 versus 1.03

Nifty Puts adds 3.8 lakh shares in Open Int

Nifty Calls add 10 lakh shares

Nifty 4600 Call adds 3 lakh shares in Open Int

Nifty 4900 Call adds 2.4 lakh shares in Open Int

Nifty 4300 Put adds 2 lakh shares in Open Int

Nifty 5000 Call adds 1.5 lakh shares in Open Int

Nifty 4500 Call sheds 2.7 lakh shares in Open Int

Nifty Dec 5500 Call adds 2.5 lakh shares in Open Int

Nifty Dec 3700 Put adds 2.5 lakh shares in Open Int

Stock Futures add 11.1 lakh shares in Open Int


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