Market Report

For four days in a row, our markets ended in negative.Realty,Banking and Auto stocks lead the fall for the day.Reliance Industries ended up by almost 2% for the day.SBI,ICICI,TataSteel,

Sterlite ind,Maruti,L&T,BHEL are the stocks which had hit 52 week's lows for the day.Asian markets ended lower for the day as the North Korean Premier passed away and the Armies of South Korea and Japan were put on high alert.

Parliament on Monday cleared the Digital cable TV bill.Information and Broadcast Minister said, her ministry is in talks with Set top box manufacturers to make them available at around Rs.1000-1200.TRAI is expected to impose tariff capping for channel subscription and the users need not subscribe to a whole bouquet of channels.This move could eat into the revenues of the companies which are into DTH business.Keep on eye on DTH companies like Dish TV,RelianceBig,Bharti,SunTv,TataSky and Videocon.

Australian and New Zealand Dollar strengthens against the major currencies in early trades today while Yen declines.

CLSA had pulled out its investments from ICICI and HDFC recently and for the first time since 2002 , it had cut the weightage of India to 6% from the earlier 11% in the Long only Asia-Ex Japan portfolio.

Expect our markets to open positive tracking the Asian peers and it may edge higher for the day.Avoid shorting for the day.

Alex sir's view on Nifty(spot).
Supports for Nifty are at 4601,4562,4487. Resistances are at 4628,4648,4683.