NEW DELHI: Indian markets
are expected to trade higher on Saturday in absence of any major global
cues. The key support for the index is around 6,430 levels.
"The Nifty is expected to trend up till 6575 in the next couple of days. In this period the key support will be at 6430 and resistance will be at 6575," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan
"The Nifty has been forming higher tops and higher bottoms; it has also closed above the previous swing's high which is a positive sign for the market," he added.
Mehta is of the view that the short-term bias remains positive for a target of 6600 with reversal at 6430. The medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly charts
"The Nifty is expected to trend up till 6575 in the next couple of days. In this period the key support will be at 6430 and resistance will be at 6575," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan
"The Nifty has been forming higher tops and higher bottoms; it has also closed above the previous swing's high which is a positive sign for the market," he added.
Mehta is of the view that the short-term bias remains positive for a target of 6600 with reversal at 6430. The medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly charts
Here is a list of ten stocks which are likely to be in focus in trade Today ..
IIFL Holdings Ltd: IIFL today said it has completed sale of its 76 per cent stake to its
Sri Lankan subsidiary. "IIFL Holdings informs further to its
intimation...it has completed the divestment of its 76 per cent stake in
its Sri Lankan subsidiary namely IIFL Securities Ceylon Ltd
Lupin Ltd:
Mumbai-based pharma major Lupin LtdBSE 0.45 % launched its generic
version of Niaspan extended release tablets, used in reducing
cholesterol in the US
Gujarat Gas Co Ltd:
GGCL has won a licence to retail CNG to automobiles and piped cooking
gas to households in Bhavnagar in Gujarat, the oil regulator PNGRB has
said.
Kwality Ltd:
Dairy firm Kwality Ltd is planning to invest about Rs 300 crore in the
next fiscal to expand its milk procurement operations and launch more
value-added products to its portfolio.
Axis Bank Ltd:
The government's offer to sell a 9% stake in Axis BankBSE 2.69 % held
by Specified Undertaking of UTI (SUUTI) was largely subscribed to by
state owned Life Insurance Corporation and a number of foreign
institutions, raising Rs 5,500 crore and helping the finance ministry
meet the disinvestment target for the current fiscal.
Financial
TechnologiesBSE -1.59 % Ltd: FTIL sought shareholders' approval for
sale of its subsidiary National Bulk Handling Corporation (NBHC).
Shree Renuka Sugars:
Shareholders of leading sugar firm Shree Renuka SugarsBSE 0.47 %
approved the allotment of 2.57 crore shares to Singapore-based
agri-business major Wilmar International for Rs 517 crore.
McDowell Holdings Ltd: Jammu & Kashmir Bank sold 1.12 lakh shares of UB group company
McDowell HoldingsBSE -2.95 % for an estimated Rs 35.42 lakh through
the open market route. The bank offloaded the scrips of McDowell
Holdings at an average price of Rs 31.63 apiece.
Federal Bank:
With the increase in foreign investment
in Federal BankBSE 2.26 % to 74 per cent, foreign investors will be
allowed to purchase stake in the private bank, RBI said on Friday
by myClip-HD"
in_rurl="http://i.txtsrving.info/click?v=SU46NTk1MTg6MTM1MTpzdG9jazo2NTZmZGM2MzZkNGVmZWRlODQxMzJiZGIzOWUxMDU0ZDp6LTEwOTQtNDk3MzE1OmVjb25vbWljdGltZXMuaW5kaWF0aW1lcy5jb206MTgzMDU5OjIwZjc1MmY1MjRlZDlkMGJjNTU4ZjYyM2NiZWE1ZDE0OmM1NTNhODljY2Q5ZDRkN2VhOGNmOGMxMmM2M2IyMDVlOjE&subid=g-497315-9e14fdf085e346958e9e426bc067bed9-"
id="_GPLITA_3" href="#">Stock
Leave a Reply
Note: only a member of this blog may post a comment.