Market Today : 17.05.2011

[REDBULL RESEARCH]

Tuesday, May 17, 2011
Markets - Weak but might see a positive session

Market likely to trade rangebound, Stock specific activity seen
Indian equities are likely to open flat amid global weakness and might
push up marginally as crude oil extends slide. Asian markets are
trading in red today.
Markets - Weak but might see a positive session Global markets are
exhibiting more weakness while Indian markets are no exception. But we
believe today's session might swing favourably towards Bulls. QE2
expiry related sell-off is yet to gain momentum.
Avoid Banking and Auto sector.

Redbull Economic News Bytes
* 3i Infotech to sell US billing unit to Cerberus for $137 m
* Glenmark sells drug rights to Sanofi for $613 m
* Inflation rate eases to 8.7% on moderation in food prices
* Edelweiss Capital Q4 net dips 17% to Rs 43 cr
* Bartronics sets July date for spinning off ops in 4 units
* JSW Steel's net up 54% Rs 2,695 cr, expansion soon
* SBI rights issue plans may hit FinMin block
* Tata Motors says April global sales up 12 pc

ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS!!!