World is flat to 50:50

The POWER play is on at Indian political adjustments by constituting a committee on 123 Nuclear deal. The committee can consume enough time to save the Left and Left can say, “Right go a head” after some time. This can be expected to take 6-12 months as postponement.
The situation at the world markets is flat with negative bias. The ADRs also in red with 1% and some are in green. The markets under performed with 50-60 points at Nifty, it lost on political turmoil.
The day can be expected to open with 4315-18, incase Nifty failed to cross 4325 then the selling pressure comes at the first hour. The RIL has to cross 1863-65 on the back of the positive news on “Gas Pricing”. The metal space may correct but Tata Steel has the potential to cross 638 if it trades above 603. The BHEL and L&T may see 2% correction, so it is very likely that the Nifty may close at 4281-79 level. The Banks has room for further upward and the support likely to continue up to Sep-07 results.