Global markets recovered after sharp sell-off. The US markets recovered sharply on Friday while Indian markets gained on Saturday in a special trading session.
Experts believe that 4650 is seen as strong support level for Nifty.
New listing - Jubilant Foodworks will be listing today.
G-7 meeting
No concrete action has taken in G-7 meeting. It has pledged to keep economic stimulus and ensured that Greece delivered on its pledge.
Greece pledged to budget deficit by 2012. G-7 also pledged to write-off Haiti debts.
European Concerns
European Central Bank President Jean-Claude Trichet said confident that Greece would cut deficit gap and Greece seen cutting gap below 3% of GDP in 2012.
Fund flows - EPFR (Week-ending February 3)
Emerging funds lost USD 1.6 billion in weekly withdrawals.
They saw biggest outflow in 24 weeks; Outflow of USD 1 billion from global EMs. USD 516 million withdrew from Asia-ex Japan.
F&O outlook
The build-up was seen in 4500 Put and 4700 Call. Long build-up was seen in Essar Oil, Ispat, Dish TV, Triveni Engg and Mercator Lines. However, short covering was seen in IFCI, GMR, Unitech and Suzlon.
Event to watch -Advance estimates of GDP from CSO.
