Indian market has special trading session today from 11 to 12:30
As US markets recovered their early losses our market wont correct further.Pullback rally expected in banking or infra stocks.
Recommendations :
Buy IRB sl 236 Trg 253 (Positional)
Sell : Bhel sl 2320 Trg 2252
Indian ADRs :
Indian ADRs ended lower on Friday. In Banking space, HDFC Bank was down 3.77% at $111.43. ICICI Bank was down 3.54% at $33.54.
In IT space, Patni Computers was down 1.66% at $18.99, Wipro was down 1.11% at $19.56, Satyam Computers was down 1.01% at $4.89 while Infosys closed up 0.47% at $50.93.
In Telecom space, Tata Communication was down 0.76% at $13.01
Tata Motors was down 0.90% at $14.28. However, Sterlite Industries was up 1.22% at $15.80 and Dr Reddy’s Labs was up 0.25% at $24.18.
US Markets :
U.S. stocks ended higher on Friday after waging a dramatic comeback in the final hour of trade, spurred by gains in commodities.
Reversing course after a nearly 170-point drop earlier, the Dow Jones Industrial Average added 10.05 points, or 0.1%, to 10,012.23, leaving the blue chips with a 0.6% weekly loss.
The S&P 500 Index gained 3.08 points, or 0.3%, to 1,066.19, down 0.7% for the week.
The Nasdaq Composite Index rose 15.69 points, or 0.7%, to 2,141.12, leaving it off 0.3% from the week-ago close.
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