US markets traded in narrow range, inspite of results of one of the largest bank reporting reduced numbers, and cutting the dividend steeply to preserve capital, for future operations, and finally closed in negative territory. After a holiday our markets open for trading today, with infosys results already announced, along with guidance for the coming year, which shall influence in the movement of bell weather stock and also the tech sector, in general. HCL Tech also shall come with results today. Huge volatility can be expected as VIX has inched up to 33.83 on friday at the close. Singapore Nifty futures are trading at discount of 110 points right now. Asian markets are trading mixed, after a slump yesterday.
Infosys Results: It has announced the results for the Q4, which are in line with market expectation. Full year EPS achieved at Rs.81.56. Yearly performance is on target as they guided. The guidance for the next year is at EPS Rs.94, and may enthuse the markets. The out look for the full year is cautiously optimistic, as the situation in US is uncertain, The Stock may open positive and then move up on short covering.
Wipro, CMC results are scheduled for 17.04.2008 and Satyam Computers results are scheduled for 21.04.2008. Reliance Industries will announce its results on 27.04.2008.
Range for the Day: Nifty might trade in the range of 4650 to 4850 today.
Strategy for the Day: Buy 4600 calls on weakness and hold them till expiry.
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