Market Outlook India Research October 18, 2010 by Angel Broking,

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Dealer’s Diary
The key benchmark indices edged lower amid a bout of volatility in early trade.
The market came off the lower level after hitting the day’s low in morning trade
and moved in a narrow range later. Weakness persisted in mid-afternoon
trade. The market slumped to a fresh intraday low in early afternoon trade and
slumped to the day’s low on heavy selling in late trade. The Sensex and Nifty
closed down by 1.8% and 1.9%, respectively. BSE mid-cap and small-cap
indices performed slightly better than the key benchmark indices, closing below
1.2% and 0.7%, respectively. Among the front liners, NTPC gained 0.4%, while
Wipro, TCS, Infosys, Hero Honda and Bharti Airtel lost 3–4%. Among mid caps,
JM Financial, Rashtriya Chemicals, Chambal Fertilizers, PTC India and
Raymond gained 3–6%, while Infotech Enterprises, IVRCL Infra, UTV Software,
Hathway Cables and Man Infra lost 3–6%.
Markets Today
The trend deciding level for the day is 20330/6105 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20570–20818/6159-6255 levels. However, if NIFTY trades
below 20330 / 6105 levels for the first half-an-hour of trade then it may correct
up to 20082–19843/6008-5954 levels.


Economic and Political News
􀂄 PM to raise visa issue, outsourcing with Obama
􀂄 34 blocks put up for auctions under Nelp-IX
􀂄 Ministry of Environment and Forest panel on Posco to submit report on Oct. 18

Corporate News
􀂄 JLR to invest in UK, keep all three auto plants
􀂄 SBI to raise `1,000cr via Tier-II bonds
􀂄 NTPC yet to acquire land for two proposed super thermal power projects
􀂄 Moser Baer to set up US $11.5mn organic LED facility
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint