It is a good rule to face difficulties at the time they arise and not allow them to increase unacknowledged - Ziegler.
The situation seems better at least at start today. US stocks climbed amid reports that Germany and France have agreed to shore up the eurozone bailout fund. But, another report has denied the same stating that the debate on the size of the EFSF may continue for a while. Consensus view is unlikely anyways.
Asian markets are holding firm. European indices finished mixed following the fresh downgrade of Spain and a Moody's warning to France over its "AAA" rating outlook. Apart from corporate results, investors will also keep an eye on US inflation, housing data and Fed’s beige book survey.
Biocon, Bajaj Finserv, HDFC Bank, Crompton Greaves, Dish TV and Hindustan Zinc will be in focus before their earnings. Hero MotoCorp will also be in the spotlight after its Q2 results. Overall, earnings have been mixed so far - both from domestic as well as offshore firms. For the Nifty, 5095 could turn out to be an important resistance.
Although markets have lost some steam this week equities are less likely to tumble much unless fresh global headwinds hit us hard. At best expect sideways consolidation before any fresh move on either direction.
FIIs were net sellers of Rs. 2.85bn (provisional) in the cash segment on Tuesday, according to NSE data. The domestic institutional institutions (DIIs) were net sellers at Rs. 1.32bn on the same day.
FIIs were net sellers of Rs. 2.22bn (provisional) in the F&O segment, according to NSE web site.
The foreign funds were net buyers at Rs. 3.97bn in the cash segment on Monday, as per SEBI data. Mutual funds were net sellers at Rs. 20mn on the same day.
Results Today: Ajmera Realty, Alembic, Bajaj Finserv, Bajaj Finance, Biocon, Crompton Greaves, Dish TV, Essar Ports, HDFC Bank, Hindustan Zinc, IGL, Infotech Enterprises, JB Chemicals, Mastek, Rallis India, Raymond, Torrent Power, WWIL, Zee Learn and Zee News. TEN MOST ACTIVE FUTURES
| Symbol | No.of Cont Traded | Last price | Open Interest | % chg in Op.Int |
| TCS | 29,682 | 1,034.30 | 5000750 | 1.09 |
| SBIN | 27,697 | 1,867.75 | 5251375 | -2.11 |
| ICICIBANK | 21,413 | 877.95 | 9332500 | -10.32 |
| TATAMOTORS | 21,269 | 180.95 | 37432500 | -14.29 |
| TATASTEEL | 17,596 | 424.10 | 17664500 | -1.49 |
| RELIANCE | 17,456 | 823.40 | 12915750 | -2.43 |
| INFY | 16,332 | 2,694.80 | 2488000 | -12.09 |
| AXISBANK | 15,938 | 1,088.70 | 6040000 | -0.46 |
| JSWSTEEL | 13,429 | 576.40 | 8150750 | -10.01 |
| DLF | 12,465 | 228.80 | 20850000 | -9.81 |
TEN MOST ACTIVE OPTIONS
| Option Type | Strike price | No.of Cont Traded | Open Interest | % Chg in Op.In |
| SBIN | CE | 1,900 | 4,270 | 257250 | 11.61 |
| RELIANCE | CE | 840 | 3,310 | 425750 | 16.33 |
| TCS | CE | 1,100 | 3,077 | 331750 | 72.56 |
| RELIANCE | CE | 820 | 2,900 | 229250 | 48.86 |
| PETRONET | CE | 170 | 2,581 | 1298000 | 58.68 |
| SBIN | CE | 2,000 | 2,496 | 567125 | -3.06 |
| TCS | CE | 1,050 | 2,383 | 207250 | 163.17 |
| SBIN | PE | 1,800 | 2,363 | 264750 | 32.38 |
| CHAMBLFERT | CE | 100 | 2,301 | 2652000 | 74.47 |
| SBIN | CE | 1,950 | 2,299 | 391500 | -7.17 |
SUPPORT & RESISTANCE LEVEL
| Company Name | S3 | S2 | S1 | Close | R1 | R2 | R3 |
| Sensex Index | 16,646 | 16,670 | 16,697 | 16,748 | 16,800 | 16,826 | 16,851 |
| Nifty Index | 5,007 | 5,014 | 5,022 | 5,038 | 5,053 | 5,061 | 5,068 |
| ABB Ltd | 654 | 657 | 659 | 665 | 670 | 673 | 675 |
| ACC | 1,094 | 1,097 | 1,100 | 1,105 | 1,111 | 1,114 | 1,117 |
| Ambuja Cements | 149 | 150 | 151 | 152 | 154 | 155 | 155 |
| Bajaj Holdings | 724 | 726 | 728 | 731 | 735 | 737 | 738 |
| BHEL | 317 | 318 | 320 | 322 | 324 | 325 | 326 |
| Bharti Airte | 369 | 370 | 371 | 374 | 377 | 378 | 379 |
| Cipla | 283 | 284 | 285 | 286 | 287 | 288 | 289 |
| Dabur India | 96 | 96 | 96 | 97 | 98 | 99 | 99 |
| GAIL India | 407 | 409 | 411 | 414 | 417 | 419 | 420 |
| Grasim Ind. | 2,303 | 2,310 | 2,318 | 2,332 | 2,346 | 2,353 | 2,360 |
| HCL Tech | 388 | 391 | 395 | 402 | 408 | 412 | 415 |
| HDFC Bank | 472 | 473 | 475 | 478 | 481 | 483 | 485 |
| Hero Honda | 1,952 | 1,960 | 1,969 | 1,986 | 2,003 | 2,012 | 2,020 |
| Hindalco | 123 | 123 | 124 | 125 | 127 | 127 | 128 |
| Hindustan Unilever | 324 | 325 | 327 | 329 | 332 | 333 | 335 |
| ICICI Bank | 862 | 866 | 869 | 877 | 884 | 888 | 891 |
| Infosys Tech | 2,676 | 2,682 | 2,689 | 2,702 | 2,714 | 2,721 | 2,727 |
| ITC Ltd | 202 | 203 | 203 | 204 | 205 | 206 | 206 |
| L&T | 1,330 | 1,335 | 1,340 | 1,349 | 1,358 | 1,363 | 1,367 |
| MTNL | 29 | 30 | 30 | 30 | 30 | 30 | 30 |
| M&M | 799 | 801 | 803 | 808 | 812 | 814 | 816 |
| Maruti Suzuki | 1,035 | 1,039 | 1,044 | 1,052 | 1,061 | 1,066 | 1,070 |
| Mahindra Satyam | 69 | 70 | 70 | 71 | 72 | 72 | 73 |
| National Alumin | 59 | 59 | 60 | 60 | 61 | 61 | 61 |
| ONGC | 258 | 259 | 261 | 264 | 267 | 268 | 269 |
| Oriental Bank | 288 | 290 | 292 | 296 | 301 | 303 | 305 |
| PNB | 957 | 959 | 961 | 965 | 970 | 972 | 974 |
| Ranbaxy Labs | 488 | 491 | 495 | 503 | 510 | 514 | 517 |
| Reliance Capital | 315 | 317 | 319 | 322 | 326 | 328 | 330 |
| Reliance Comm | 73 | 73 | 73 | 74 | 75 | 75 | 76 |
| Reliance Energy | 399 | 401 | 403 | 407 | 411 | 413 | 415 |
| Reliance Inds | 810 | 812 | 815 | 820 | 825 | 828 | 830 |
| R Power | 85 | 85 | 85 | 86 | 86 | 87 | 87 |
| Siemens India | 802 | 805 | 809 | 816 | 823 | 826 | 830 |
| SBI | 1,834 | 1,842 | 1,851 | 1,867 | 1,883 | 1,891 | 1,899 |
| TCS | 1,005 | 1,012 | 1,019 | 1,034 | 1,048 | 1,055 | 1,062 |
| Tata Motors | 177 | 178 | 179 | 181 | 184 | 185 | 186 |
| Tata Power | 99 | 99 | 100 | 100 | 101 | 101 | 102 |
| Tata Steel | 421 | 423 | 425 | 429 | 433 | 435 | 437 |
| Tata comm | 180 | 182 | 183 | 185 | 187 | 188 | 189 |
| Wipro | 340 | 342 | 343 | 346 | 349 | 351 | 352 |
| Wire And Wireless | 8 | 8 | 8 | 8 | 9 | 9 | 9 |
| Zee Entertainment | 111 | 112 | 112 | 113 | 114 | 115 | 116 |
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