US Markets Today : April 24th,2008

Very good day for US markets on the back of cooling commodities prices, good earnings and strong dollar. DOW was up by 0.7% and NASDAQ by 1% in today's trade.

Triggers

1. Very good earnings from Microsoft,Apple that topped the estimates.

2.Ford Motors earnings which posted a profit vs loss in the last  quarter, which surprised the Markets.

3.New home sales for March fell to 16 year low

4.US crude oil fall to settle at $116.06

5.Dollar rise vs EURO and YEN

Impact on India

With the start of MAY contracts and positive cues from US and Asian Markets, we could expect a gap up opening today. Nifty can touch 5100 levels and can trade above till at least afternoon.Its interesting to see if Bharti,Cipla and Siemens can post good Q4 numbers today or not. There is chance to play in F&O segment in Bharti today considering the good numbers from telecom major Idea Celular yesterday. Also one can buy PUTs in NIFTY for 5150,5200 contracts for a premium of 50,150 respectively to get good gains this month.