Market outlook 12-08-2010

US Markets closed negative.
Europe markets ended red.
Asian markets are trading lower.
Expect Indian Markets to open negative.
Nifty: (5420) Support 5342 and Resistance 5474.

INTRADAY BEEPS

BUY HIND PETRO TARGET 475 SL 455;
BUY ORIENT PAPER TARGET 60 SL 51;
BUY BAJAJ HIND TARGET 120 SL 110;
BUY BPCL TARGET 670 SL 650;
BUY CREWBOS TARGET 119 SL 110;
BUY ANANTRAJ TARGET 140 SL 125;
BUY SUNDRAM FAST TARGET 53 SL 47;

STOCK BEEPS

-Results Today: SBI, Tata Steel, Tata Motors, Ranbaxy, Divis Labs,Shree Renuka, MTNL, Ansal Propperties, Apollo Hospital, Cummins India,Indraprastha Gas, Indo Rama Syn, Indiabulls Real Estate, HPCL,Hindustan Copper, Hathway Cable, Dishman Pharma, Moser Baer, PTC India, Talwalkar
-M&M Selected as preferred bidder to acquire controlling stake in Ssangyong Motors
-Aksh Optic Fibre QIP to open on August 16; Issue price fixed at Rs 19.20/sh
-Vishal Retail plumps for TPG over Future group, even the lenders seen favouring TPG – BS
-Solrex Pharma, a firm owned by Singh brothers sells part of its stake in Orchid Chem, sells 8.5 lakh shares @ Rs 196/sh
-Prakash Industries in talks to buy Nova Iron and Steel
-Engineers India: 3.36 crore shares of FPO allotted to shareholders in DP
-Sterling Holiday: Board Meeting on August 18, 2010
-SCI: Board approved FPO upto 20% ((Including fresh shares))
-Punjab Alkalies: Approved constitution of Committee for opening & short-listing of EOI for disinvestment
-Pioneer Embroideries: Allotment and issue of Preference shares amounting up to Rs 30 crore

Board Meets
-Essar Shipping: Restructuring
-Greaves Cotton: Stock Split
-Indowind Energy: FCCB
-Kalindee Rail: Issue of Security

Ex-Dates
-Adani Enterprise: Ex-Dividend @ Rs.1/shr
Balaji Tele: Ex-Dividend @ 0.3/shr
Globsyn Info: Ex-Reduction of Capital ((Reduction of Capital of by 50%))
Indo Gulf Inds : Ex-Scheme of Arrangement ( Reduction of Capital by 90% , approved by BIFR)

BUZIBIZ