Mkt outlook 23/12

INTRADAY OUTLOOK

US Markets ended higheron +ve home sales data; S&P hits 52-wk high.Dow
Jones ended up 51 points and Nasdaq ended up 15 points
Europe markets ended positive
Asian markets trading positive.
Expect Indian Markets to open flat and trade rangebound.
Nifty: (4986) Support is at 4944-4917 and Resistance is at 5033-5062

INTRADAY BEEPS

BUY GLENMARK TARGET 288 SL 274
BUY PTC INDIA TARGET 117 SL 109
BUY GMDC TARGET 149 SL 142
BUY UNION BANK TARGET 275 SL 264
BUY 3I INFOTECH TARGET 94 SL 86
BUY YES BANK TARGET 268 SL 257
BUY IDEA TARGET 64 SL 56
BUY IDBI TARGET 129 SL 122

STOCK BEEPS

-Bharati receives 1.02 crore shares in Great Offshore open offer
-Board meets : Zee Entertainment and ETC Networks on restructuring
-Reliance's Lyondell buy seen unlikely in 2009
-Max India board meet on January 13 to consider fund raising
-ONGC agrees to a special oil tax if the subsidy burden regime is rationalized
-GVK in talks with Siemens for BIAL stake
-Hotel Leela Venture promoters raising stake in company to 55% via creeping acquisition


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