Market setup

 Asian markets are in green and that will add fuel to India. Technical problems have impacted almost 4 hours of trading yesterday and today is another day. It is a start of the results season with two banks coming up with their results, Indus Ind and South Indian banks. NIFTY today is at an all time high and the journey towards 10,000 is well on its way. Today the start will be positive close to 9800 and today we will see another all time high for Nifty and with negative fundamentals like terror attacks yesterday might keep NIFTY under check. 9830 is the likely to be the resistance for the day and 9750 might be tested. If the close happens below 9800 then there can be a correction in the near term. I see a flat day today with a positive bias.
Q1 Results scheduled today
1. Amtek Auto 31.35 (-0.32%)
2. IndusInd bank 1559.80 (+2.35%)
3. South Indian bank 28.80 (+2.31%)
Both Indus Ind and South Indian bank closed 2% higher before the results. What happens today in the results needs to be seen. In other news Airtel is offering its customers the facility of rolling over their left over data into next data cycle. This will be a huge plus as lot of customers don’t use up all their data. Airtel is also planning to extend this to prepaid customers subsequently. Air India as a cost saving initiative has turned totally vegetarian. The economy class customers will get only vegetarian meal. Non veg will be served to only in International flights and in business class of domestic flights. Air India is expected to save 5 Cr per year through this initiative.

Petrol Prices in Important cities today, 11th July

City Petrol Diesel
Delhi 63.93(63.83) 54.74(54.55)
Mumbai 73.27(75.04) 58.27(59.93)
Kolkota 67.40(66.73) 57.49(56.85)
Chennai 66.38(66.25) 57.72(57.44)
Bangalore 65.10(65.00) 54.88(55.48)
Hyderabad 67.91(67.81) 59.62(59.41)

Like NIFTY yesterday the petrol and diesel prices behaved erratic today in different cities. Mumbai saw a huge drop in prices, Kolkata saw a huge rise and other cities some up and down movements.