Daily call - Jan 12 2009

Indices closed last week on decisively bearish note. The Nifty has now closed below the trend line support at 3000. The bearish story for the Nifty, however, gets re-confirmed only if it breaks the 2812 low formed on 29th December.



Dissolution of the old board and the appointment of three new directors augur well for the Satyam stock. Expect stock to fire-up in the opening session. Watch out for Industrial Production numbers to be announced today, and if it is data is decisively higher or lower than expectation of a decline of 0.8%, expect the broader markets to follow in that direction. Technology bell weather Infosys will announce the Quarterly results tomorrow and this result will determine the future direction of IT sector. Reliance brothers are going to hog the limelight in near future, as the issues bothering the warring siblings' needs to be resolved soon one way or other. Play the news flow in any stock related to late Dhirubhai with Options.