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Macroeconomic indicator:

1.      US were somber today on Edward Kennedy demise (a reformer by all means) and news of China production curbs. It closed flat- just about an inch in green with Dollar/ Yen gaining.

2.      Nikkei and rest of Asia did not like what is happening in China and is selling off at opening.

3.      August series will expire today a series which went up- down and up in a  hurry. Global cue are not supportive today – though expiry related trades will take over. Tech gained on BP deals – IBM, Accenture, Wipro, TCS and Infy all are part of the big pie.

No trading directions can be seen at opening but something later on for sure. A gap up market open can be shorted for day gains while a gap down market opening can be longed for gains. Traders can also trade on volatility.

Retail investor as always is advised to stay off on expiry day.

A)   Nifty 50 Index

No trading calls today.

Stock Specific Futures:

            Avoid stock futures for the day..

Margin Trading:

Same as stock specific futures.

Investment tips for today.

Start acquiring capital goods (ABB, BHEL, L&T), Auto (Maruti), Steel (SAIL), Power (NTPC), IT (TCS, Infosys), Bank (SBI, PNB), Reliance, RPL, Airtel, Cement (GACL, Ultratech) at lower levels. Take preferred midcaps stocks like TTML, Idea Cellular, IFCI, Satyam, Reliance Energy, RNRL at lower levels as well.

Macroeconomic indicator:

1.      US promised a lot today but ended moderately up (DOW up by 30 points). Obama appoints Bernanke for second term thus signaling a continuation of policies in effect.  Home sales data and consumer confidence is up in the US.

2.      Nikkei is doing slightly better on good global cue and is about 60 odd points.

3.      India saw profit booking initially followed by recovery on good global indicators. India will remain watchful ahead of expiry and also take note of center latest affidavit in apex court on the gas case.

We are close to expiry of August series so better we start watching trend of rollovers today. Market is expected to be volatile with a green opening.

No trading directions can be seen at opening. A gap up market open can be shorted for day gains.

A)   Nifty 50 Index (Very small trading window)

Sell- Current levels – 4675

Buy- 4644

Stop loss – 4688

Target – 4632 (Daily chart)

Stock Specific Futures:

            Avoid stock futures for the day..

Margin Trading:

Same as stock specific futures.

Investment tips for today.

Start acquiring capital goods (ABB, BHEL, L&T), Auto (Maruti), Steel (SAIL), Power (NTPC), IT (TCS, Infosys), Bank (SBI, PNB), Reliance, RPL, Airtel, Cement (GACL, Ultratech) at lower levels. Take preferred midcaps stocks like TTML, Idea Cellular, IFCI, Satyam, Reliance Energy, RNRL at lower levels as well.

Macroeconomic indicator:

1.      DOW good 150+ on Friday amidst plenty of good news on recovery – Bernanke statements etc.

2.      Nikkei has added 3+% in early trade on US home sale data and with concrete signs that recovery is gaining broad base strength.

3.      India rallied on Friday led by front liners on good global cue.

Although news coming out of China continues to be dampener but we believe there is bit of rise left in market before it correct. Prime Minister has asked Ambani brothers to settle it up is a welcome gesture to ease tensions.

We are close to expiry of August series so better we start watching trend of rollovers from today itself.

A)   Nifty 50 Index

Buy- Current levels – 4530

Sell- 4572

Stop loss – 4518

Target – 4598 (Daily chart)

Stock Specific Futures:

            Avoid stock futures for the day..

Margin Trading:

Same as stock specific futures.

Investment tips for today.

Start acquiring capital goods (ABB, BHEL, L&T), Auto (Maruti), Steel (SAIL), Power (NTPC), IT (TCS, Infosys), Bank (SBI, PNB), Reliance, RPL, Airtel, Cement (GACL, Ultratech) at lower levels. Take preferred midcaps stocks like TTML, Idea Cellular, IFCI, Satyam, Reliance Energy, RNRL at lower levels as well.

Macroeconomic indicator:

1.      DOW added 70 points today boosted by positive news from AIG stating that it will pay back the bailout money. AT&T and Verizon are undergoing scrutiny for anti competitive behavior. Cash for clunkers program closure announced

2.      Asia is losing some ground today in early trade amidst news that pensions private equity cash reduced by 59% as profit shrunk and this is big breaking news.

3.      Dalal street rallied yesterday pairing the day before losses.

Nifty is expected to trade with caution today with a south bias. Expiry is not far. Adani listing was lackluster, RIL-ADAG due date with apex court is approaching as ADAG has up the ante are expected to call shots in market..

A)   Nifty 50 Index

Sell- Current levels – 4450

Buy- 4400

Stop loss – 4464

Target – 4392 (Daily chart)

Stock Specific Futures:

            Avoid stock futures for the day..

Margin Trading:

Same as stock specific futures.

Investment tips for today.

Start acquiring capital goods (ABB, BHEL, L&T), Auto (Maruti), Steel (SAIL), Power (NTPC), IT (TCS, Infosys), Bank (SBI, PNB), Reliance, RPL, Airtel, Cement (GACL, Ultratech) at lower levels. Take preferred midcaps stocks like TTML, Idea Cellular, IFCI, Satyam, Reliance Energy, RNRL at lower levels as well.

Macroeconomic indicator:

1.      DOW added 62 odd today led by energy stocks. Dollar lost some value but in general looking much better in US market as compared to what it was in the first half.

2.      Asia is marginally up in early trade. Switzerland to sell $5.6 billion UBS stake.

3.      Dalal street took a beating yesterday however some talks have started to make round that irrespective of what is happening to China growth numbers – India will beat China in numbers and this may help market at least for the short time.

Drought in India is a dampner and sugar sector is affected. Triggers for market is to move up – but there are volatility factors to take into account. In total market is entering into a riskier territory where trading windows are getting difficult to predict.

A)    Nifty 50 Index

Buy- Current levels – 4390

Sell- 4432

Stop loss – 4384

Target – 4450 (Daily chart)

Stock Specific Futures:

            Avoid stock futures for the day..

Margin Trading:

Same as stock specific futures.

Investment tips for today.

Start acquiring capital goods (ABB, BHEL, L&T), Auto (Maruti), Steel (SAIL), Power (NTPC), IT (TCS, Infosys), Bank (SBI, PNB), Reliance, RPL, Airtel, Cement (GACL, Ultratech) at lower levels. Take preferred midcaps stocks like TTML, Idea Cellular, IFCI, Satyam, Reliance Energy, RNRL at lower levels as well.