New Page 1 Markets expected to remain volatile with positive bias
The positive Asian indices in morning trades and prevailing bullish trend likely to generate optimism in morning trades. The market may see some short-term profit bookings in frontline stocks which may create a volatility in the afternoon. Among the domestic indices, the Nifty could test higher levels of 3720 and may dip to 3650 on the downside. The Sensex has a likely support at 12000 and may face resistance at 12300.
Blue chips gained and the Nasdaq declined in a mixed Tuesday session on Wall Street as investors showed caution after the recent rally and amid ongoing worries about banks and autos. As a Result the Dow gained 50 points to close at 8469, the Nasdaq also ended weak with loss of 15 points at 1716.
Indian ADRs had a mixed outing on Friday. Wipro was the major gainer amongst the ADRs and gained 6.05%, while Infosys, Satyam, Dr Reddy, ICICI Bank, VSNL and Tata Motors were up around 1-3% each. Among the losers Rediff shed 5.06% and HDFC Bank, MTNL and Patni Computers fell around 1% each.
Crude oil prices moved up, while the Nymex light crude oil for June series went up by 84 cents at $59.69 a barrel. In the commodity segment, the Comex gold shot up by $10.40 to settle at $923.90 an ounce.
Daily trend of FII/MF investment in equities
On May 11 2009, FIIs were net buyers of stocks to the tune of Rs182 crore (purchases worth Rs1684 crore and sales of Rs1502 crore) while domestic mutual funds were net sellers of stocks to the tune of Rs341 crore (purchases worth Rs284 crore and sales of Rs625 crore).
Results: Balaji tele and Lupin
IIP data announced yesterday for March 09 Expec -0.6% actual 2.3%
Stock with +ve bias: Welspun guj (SL 109), Rpower
Stocks For Short Term Delivery: ACC
Stocks for investment : BEL, Cadila, ITC and Ultratech. 
