BOR: Market Outlook: Indian markets may have flat to positive opening today on the back of mixed reaction from the Asian markets.

Market Outlook: Indian markets may have flat to positive opening today on the back of mixed reaction from the Asian markets. Nifty has supports at 4360-4400 and resistances are at 4500-4550. Markets may remain weak for the day after yesterday’s pullback. Overall outlook for the markets today is that of guarded optimism as the overseas cues and bear covering are likely to cushion downsides, especially if the Nifty spot remains above the 4450 levels.

Nifty Outlook: Pivot Point: 4441

R1: 4509, R2: 4559, R3: 4628

S1: 4390, S2: 4322, S3: 4271

Results today: MphasiS Q3 ended July, Zenotech Labs Q1 ended June

On the global space: Wall St ends higher led by financial, retail, technology while Asia trading mixed; Shanghai up, Nikkei down. The US Markets made a broad-based rebound from the previous session's sharp decline, finishing near intra-day highs. The markets snapped a two-day losing streak. The rally was led by financial, retail and technology as stocks posted gains across the board. American express was one of the key gainers after analyst upgrades. The markets seemed to shrug off some weak economic data. Housing starts dropped 1% in July, well short of expectations after an upwardly-revised 6.5-percent jump in June. In important earnings from the US, Hewlett-Packard reported better-than-expected quarterly earnings and revenue on Tuesday. The PC maker said that excluding other items, it earned 91 cents a share in the third quarter. Meanwhile its revenue fell 2%. The Dow gained 82.60 points, or 0.9%, to 9,217.94. The S&P 500 index gained 9.94 points, or 1%, to 989.67, while the Nasdaq Composite Index added 25.08 points, or 1.3%, to 1,955.92.

Stocks in action for the day: RComm, Lupin, Cipla, RIL, Pantaloon, Edserv

Bharti Realty & Unitech disqualified from HSIIDC (Haryana State Industrial and Infrastructure Development Corporation) auction on tech grounds. -Bharti Realty bid Rs 2,450 crore versus reserve price of Rs 1750 cr -Unitech bid Rs 2,000 crore versus reserve price of Rs 1,750 crore -DLF bid close to reserve price of Rs 1,750 crore

Rallis India: -Tata Tea board approves transfer of entire 24.52% stake ((29.38 lakh shares)) in Rallis India to Tata Chemicals up to Rs 850/share via inter-se transfer -Alert: Deal may happen today, reports of merger post the deal

Cipla: -Cipla can sell generic version of Bayer’s cancer drug rules HC -Delhi HC Orders Bayer to pay Rs 6.15 lakh to govt, Cipla -Alert: Bayer holds patent in India for anti-cancer drug Nexavar

RIL : RIL looking to sell 15% stake in Rewas Port for additional funds: RIL's unit Reliance Logistics holds 55% stake in Rewas Port

Gammon India: -DMRC (Delhi Metro Rail Corporation) show-cause notice not to impact ongoing projects-Company to remain sole contractor for all continuing projects: DMRC -No commercial penalty mentioned in DMRC notice -Uncertain if company will be allowed to bid for new project

RPG group’s Spencer to dilute 10% to raise funds

Pantaloon to raise Rs 500 crore by selling non core business

Daiichi Sankyo, Lupin in talks for marketing tie up

Reliance Communication in talks for Zain’s Africa operations

12.1 crore Anus Labs shares to hit the market ((bonus issue))

Edserv Softsystems board approves issue of 2.27 lakh warrants at Rs 88 to promoters

Pochiraju Industries board meet on August 26 on funds raising

Cyber Tech Systems board meet on August 20 on buy back

Bhandari Hosiery board meet on August 25 on rights issue

Tulsyan NEC Board approves rights issue up to Rs 50 crore, price band Rs 32-40 ((CMP Rs 60))

F&O cues: Total Futures Open Int up by Rs 1405 crore

Total Options Open Int up by Rs 1131 crore

Nifty up 1.6%, Futures Open Int down 1%

Nifty August Fut trading at 4-pt discount versus 15-pt

Stock Futures add 3.4 crore shares in Open Int

Nifty IVs at 35-38% levels

Nifty Open Int Put Call Ratio at 0.98 versus 0.93

Nifty Puts Adds 23.4 lakh shares in Open Int

Nifty Calls Shed 62,000 shares