Monday, August 24, 2009

BOR: Market Outlook: Indian markets may have a gap up positive opening today on the back of Asain cues.

Market Outlook: Indian markets may have a gap up positive opening today on the back of Asain cues. Nifty has supports at 4400-4430 and resistances are at 4630-4700. Markets are expected to retest the recent high. Strong support on the Nifty front is at 4400 and next target on the upside would be 4640-4789. Resistance still hangs overhead. Breakout is a must and last week’s low must not be violated.

Nifty Outlook: Pivot Point: 4489

R1: 4578, R2: 4627, R3: 4715

S1: 4440, S2: 4351, S3: 4302

On the global counter US mkts rally on good home sales data, Dow ends up 156 pts & Asia trading higher; Nikkei up 3%, Hang Seng up 2%. US markets surged and the S&P 500 rallied to its best single-day percentage gain this month after July existing home sales jump 7.2%. Crude spiked over a percent as well.

Stocks in action for the day: Maruti, Fortis, Volta, Tech Mah, Bharti

NTPC - -Govt to file joint affidavit on September 1 before SC: -Joint affidavit to represent interest of Oil Ministry, NTPC -NTPC may not be required to file a separate SLP (special leave petition) -Govt taking legal opinion on the move: Sources

Indiabulls: -Company holds road shows for pre-IPO placement of Indiabulls Power -Indiabulls Power pre-IPO price in range of Rs 44/share -Indiabulls Power approached dom investors for pre-IPO issue -Indiabulls Power could raise Rs 600 crore via pre-IPO placement Alert: -Indiabulls Power IPO to offer issue up to 39 crore shares
-Pre-IPO price could value Indiabulls Power IPO at Rs 1,700 crore

Bharti-MTN: -Banks close to finalising $4.5 billion loan for MTN -MTN loan for Bharti deal to be split in 2 tranches-International Banks to provide $2.5 billion loan to MTN -SA Banks to give loan to MTN in local currency equaling $2 billion

ICICI Bank: -May look at initial public offer for 4 units -May sell stake in insurance unit if govt ups FDI limit

IFCI - -Govt nominees question IFCI investment in MCX-SX -Govt nominee seeks clarity on IFCI's valuation for MCX-SX -Alert: IFCI got 5% in MCX-SX on July 18 from Financial Technologies at Rs 35/share -Alert: Transaction values MCX-SX at approximately Rs 5,000 crore

Haryana allots 700 acres to Maruti Suzuki for R&D complex at Rohtak

Fertiliser body moves SC in RNRL-RIL gas dispute:

Fortis to announce deal to buy Wockhardt Hospitals today.

Voltas bags orders worth Rs 300 crore from Kolkata & Chennai International Airports

Jet Airways: Over 600 pilots to go on strike from September 7

Govt orders inquiry into Delhi airport roof collapse ((GMR Infra lead consortium is developing the airport))

GTL Infra, Essar in race for Aircel tiower Assets

Tech Mahindra bags Etisalat contract worth Rs 1500 crore

Govt plans retail clamp on Cipla’s Tamiflu substitute:

NTPC to aggressively diversify into wind power business

Numeric Power board approves 1:1 bonus issue

GEI Industrial Systems acquires 82% stake in GEI Power

NSE bars further F&O positions in Aban Offshore as 95% of marketwide limit hit

5.98 crore Orient Abrasives shares to hit the market ((bonus issue))

F&O cues: Total Futures Open Int up by Rs 1616cr

Total Options Open Int down by Rs 79 crore

Nifty up 1.7%, Futures Open Int up 2%

Nifty August Fut trading at 7-pt premium versus 3-point prem

Stock Futures add 2.2 crore shares in Open Int

Nifty Open Int Put Call Ratio up from 1 to 1.09

Nifty Puts add 20.2 lakh shares

Nity Calls shed 25 lakh shares

Nifty IVs at 30-34% levels

NIfty 4500 Put adds 7 lakh shares in Open Int

Nifty 4400 Put adds 4.8 lakh shares in Open Int

Nifty 4600 Put adds 3.8 lakh shares in Open Int

Nifty Sept 4300 Put adds 3.3 lakh shares in Open Int

Nifty Sept 5000 Call adds 2.5 lakh shares in Open Int

Nifty Aug 4700 Call sheds 3.9 lakh shares in Open Int


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