Trade setup

Things looks positive both globally and locally. US markets are touching record highs and the merger news of ONGC-HPCL merger is the news of the day. Its happening by the end of the year according to govt. but initial reaction might be negative for HPCL as valuations are happening at the market price and that is not very attractive for the shareholders. How ONGC and HPCL react needs to be seen. Its bit of an unknown zone for both. But initial reaction might be positive for ONGC and negative for HPCL. With NIFTY at 9900 the count down for 10,000 begins again and expect a flat start today around 9900 levels and today it might see the 9920 levels again. Put call ratio is at 1.46 again and maximum put selling is happening at 9900 levels.
Yesterday’s Q1 results were fine, except for Canara bank which came up with sad numbers. Slippages went to 77% which is the highest in last many quarters. Havells also disappointed a bit. Both these stocks will be in red today.

Following are the Q1 results expected today.

1. Reliance Industries
2. Wipro
3. RBL bank
4. ABB
5. Bajaj Auto
6. Kotak bank
7. Force motors
Plenty of stocks up for results and its Bajaj and Kotak during market hours and Reliance post market hours that would be keenly watched.

Fuel prices in important cities on 20th July

City Petrol Diesel
Delhi 65.25(64.21) 55.05(55.04)
Mumbai 73.59(73.54) 58.60(58.59)
Kolkota 67.66(67.62) 57.80(57.78)
Chennai 66.72(66.67) 58.05(58.04)
Bangalore 65.43(65.38) 55.20(55.19)
Hyderabad 68.25(68.21) 59.96(59.95)
There was a 4-5 paise increase in Petrol and 1-2 paise increase in diesel prices today. Brent crude is a monthly highest level today!