Can Infosys save Stock market correction?

Infosys will announce Q1 results today against negative sentiment surrounding global markets. Can Infosys save Indian markets by giving positive guidance? US market Dow Zones lost 148 points against mortgage and earning concerns. Most of the Asian markets are trading in the negative zone and crude is moving above $73. Indian stocks are on the verge of a major correction due to these negative triggers. If Infosys gives positive guidance, markets will be saved from major correction (partially). If Infosys gives negative guidance, BSE Sensex will lose around 250-300 points.

Global cues: Negative sentiment surrounded global markets.

Sector of the day: IT Stocks.

Stock of the day: Infosys Technologies.

Rumour of the day:

1. Prajay Engineers Syndicate – Good results and Bonus rumours.
2. KS oils – safe bet for medium term. Stock split may up the stock.

Events of the day:

1. Infosys results. Infosys guidance more than results will change the fortunes of IT companies. My opinion is Infosys may miss the target. In the current financial year, rupee appreciated against dollar, Pound and Euro by 5-8%.

2. Rupee may touch 9-year high against dollar today.

3. Everonn IPO will end today. Allotment will be very low.

Positive stock news:

1. Tatas will pickup stake in DCB.
2. HDFC Bank posted 34% rise in net profit. It may bounce back.
3. Blackstone may pickup stake in Nagarjuna Construction.
4. Reliance Energy is on massive expansion plans.
5. PTC will pickup stake in Indian energy exchange.
6. IFC picked up 3.5% stake in Max healthcare.

Negative stock news:

1. Dublin high-court gave ruling in favour of Pfizer. Problem for Ranbaxy.
2. Suzlon will continue to fall on the back of negative news (IPO Money).

Best stocks for day traders and investors:

1. DCB:
2. Nagarjuna Construction.

Stock advice:

1. Stay away from markets. If Infosys gives positive guidance, take long positions in IT stocks.

Please share your opinion on my stock recommendations and give your stock ideas.