The market will open in red today..

The markets are expected to remain subdued today, with high oil prices and tension in the Middle-east. Till now most of the indices in the Asian markets are down. But what are news we get today: 1. Huge selling is continuing in the Large caps stocks in a row. 2. FIIs are net sellers of Rs.1318 Cr in F & O on Friday 3. FIIs are net seller of Rs.426 Cr( Prov) on Friday 4. Mid-cap stocks as expected are showing great upward movements, with good mid-cap IT stocks on fire, like Geometric Software, Sonata Software, Polaris Etc. Do not get long on Polaris as 150 % rise in open interest took place within some days. It will be better if one goes on short on all the IT counters. 5. Some of the mid-cap big boys like GHCL, India Cements, Geometric Software is expected to come up with results today. 6. Trading volume in the mid cap IT stocks has surged, keep close all negative speculations. 7.Nifty add 4.7% in the open Interest and Nifty futures is trading at a discount of 31.95 % 8. Looking at the OI data, the market would be in the range of 3000 to 3200. This also indicates some bearish mood prevalent specially in the large caps. I have been telling froma long time to buy the mid-cap counters in the group SumanSpeaks. 9. There is mixed news from the Emerging Markets. Till the last new poured in, Brazil was slightly down, while Russian, Karachi, Argentina are up. 10. Suzlon, Bajaj Auto and Centruy Textiles has added significant amount in the open interest. 11. In the LME the Copper and Alimium prices are down while Zinc and Nikel prices are up. 12. Lot of the US data come out in this week. 13. World Steel prices set to rise in AUGUST due to huge demand for the metal world-wide and rise in cost of raw materials. 14. Indian ADRs are also mixed. 15. Crude prices still hover above $77 / Barel. This is the speculative premium on the oil, which is due to geo-political factors. . Crude soared to as high as $78.40 a barrel in intraday trading before settling up 33 cents at $77.03. Crude oil on the New York Mercantile Exchange rose $2.94, or 4%, this week. London Brent rose 58 cents to $77.27 a barrel, after jumping to a record of $78.03 a barrel earlier in the session. I do not know where the markets will close today as there is too much uncertainty. Trade very cautiously. Today u can buy Geometric Software and Hindustan Zinc at the Friday's closing price. More in the following mails on this site....