SELL Suzlon Energy Stop Loss 75 Target 62

SELL Unitech Stop Loss 58 Target 42

SELL Reliance Capital Stop Loss 620 Target 533

SELL Reliance Power Stop Loss 140 Target 119



Asian Markets
Most Asian Markets are trading lower.

Hang Seng Index down 0.47 pct at 16352.71.
KOSPI Index down 0.64 pct at 1,388.95.
Straits Times Index down 1.19 pct at 2,049.76.
Shanghai Composite Index was down 0.14 pct to 2563.71.

U.S. Markets
On Wall Street,Stocks closed flat on Tuesday.The Dow Jones industrial average was down 16.09, 0.19 percent, to 8,410.65.The Standard & Poor's 500 index was down 3.44, 0.38 percent, to 903.80. The Nasdaq composite index was down 9.44,0.54 percent, to 1,754.12.
Nifty May future premium decreased to 3 points so cost of carry decreased.
--Nifty open interest increased by 3 lacs suggests short addition. (Total OI now at 3.86 cr)
--3600 puts had open interest of 20 lacs and 3800 calls had open interest of 29 lacs, so 3600 and 3800 will be important levels to watch for.
--India VIX closed at 50.53, increased by 2% suggests instability and uncertainity.
--US markets closed in red.
--Asian markets trading mixed.
--Sgx nifty trading at 3647. (Down 6)

--Positional strategy for nifty—
---IDEAL STRATEGY—LONG.
---CLOSING STOPLOSS FOR LONG—3488.
---CLOSING STOPLOSS FOR SHORT—3611. (STOPPED OUT)