Ten stocks in focus in Tuesday morning trade
Indian markets are likely to trade in a range. Here is a list of ten stocks which are likely to remain in focus in morning trade.
By ET Online | Updated:
NEW DELHI: Indian markets are likely to trade in a range with a positive bias on Tuesday tracking strong global cues. The immediate support level for Nifty is around 5811.
"The Nifty is expected to head lower till 5811. In this period it will find a key support at 5811 and face resistance at 5900," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has faced resistance around the 40-daily moving average (DMA) and has been forming lower tops and lower bottoms on the daily chart," he said.
Mehta is of the view that the short-term bias for the Nifty remains negative for a target of 5630 with reversal around 5972. The medium-term outlook also remains negative with reversal above the 40-DMA.
Here is a list of ten stocks which are likely to remain in focus in morning trade:
M&M Ltd, after Ssangyong Motor Co, part of the Mahindra Group, today said it has sold a total of 12,730 vehicles in May, this year, a rise of over 25 per cent over the year-ago period.
NTPC Ltd, after coal linkage to NTPC's proposed 1,980 MW North Karnapura power plant in Jharkhand has been restored but supply of the fuel will start in the next Plan period, Coal Ministry has informed dry fuel producer CIL.
GMR Infrastructure Ltd, after the Bangalore-based infrastructure company, which was forced to hand over the Male airport to the Maldives government, has got a breather.
"The Anti-Corruption Commission (ACC) of Maldives has said that there was no corruption involved in leasing of Ibrahim Nasir International Airport to GMR," according to media reports.
L&T Ltd, after the engineering major plans to bid for hydrocarbon projects outside the country, even as it is aggressively getting into the domestic defence sector worth around Rs 8,000 crore.
Sterlite Industries Ltd, after its copper smelter unit, which was shut down over two months ago, has resumed operations after the National Green Tribunal's expert panel gave a green signal.
JSW Steel Ltd, after the company reported a 40 per cent growth in May production at 10.13 lakh tonnes on higher flat products output.
Shasun Pharmaceuticals Ltd, after the workers at its Puducherry plant, the world's largest manufacturer of anti-inflammatory and pain drug Ibuprofen, have gone on strike, the company informed the stock exchanges on Monday.
Venus Remedies Ltd, after the company has received patent from Mexico for its novel antibiotic Potentox. Granted by the Mexican Institute of Industrial Property (IMPI), the patent protects the composition of Potentox.
Siemens Ltd, after the company received a Rs 66-crore order from NTPC for modernising its Korba plant in Chhattisgarh.
PowerGrid Corporation of India Ltd, after the company has sought permission from the Central Electricity Regulatory Commission (CERC) to upgrade its 1,700 stations in an initiative to implement the smart-grid mechanism.
"The Nifty is expected to head lower till 5811. In this period it will find a key support at 5811 and face resistance at 5900," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has faced resistance around the 40-daily moving average (DMA) and has been forming lower tops and lower bottoms on the daily chart," he said.
Mehta is of the view that the short-term bias for the Nifty remains negative for a target of 5630 with reversal around 5972. The medium-term outlook also remains negative with reversal above the 40-DMA.
Here is a list of ten stocks which are likely to remain in focus in morning trade:
M&M Ltd, after Ssangyong Motor Co, part of the Mahindra Group, today said it has sold a total of 12,730 vehicles in May, this year, a rise of over 25 per cent over the year-ago period.
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NTPC Ltd, after coal linkage to NTPC's proposed 1,980 MW North Karnapura power plant in Jharkhand has been restored but supply of the fuel will start in the next Plan period, Coal Ministry has informed dry fuel producer CIL.
GMR Infrastructure Ltd, after the Bangalore-based infrastructure company, which was forced to hand over the Male airport to the Maldives government, has got a breather.
"The Anti-Corruption Commission (ACC) of Maldives has said that there was no corruption involved in leasing of Ibrahim Nasir International Airport to GMR," according to media reports.
L&T Ltd, after the engineering major plans to bid for hydrocarbon projects outside the country, even as it is aggressively getting into the domestic defence sector worth around Rs 8,000 crore.
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Sterlite Industries Ltd, after its copper smelter unit, which was shut down over two months ago, has resumed operations after the National Green Tribunal's expert panel gave a green signal.
JSW Steel Ltd, after the company reported a 40 per cent growth in May production at 10.13 lakh tonnes on higher flat products output.
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Shasun Pharmaceuticals Ltd, after the workers at its Puducherry plant, the world's largest manufacturer of anti-inflammatory and pain drug Ibuprofen, have gone on strike, the company informed the stock exchanges on Monday.
Venus Remedies Ltd, after the company has received patent from Mexico for its novel antibiotic Potentox. Granted by the Mexican Institute of Industrial Property (IMPI), the patent protects the composition of Potentox.
Siemens Ltd, after the company received a Rs 66-crore order from NTPC for modernising its Korba plant in Chhattisgarh.
PowerGrid Corporation of India Ltd, after the company has sought permission from the Central Electricity Regulatory Commission (CERC) to upgrade its 1,700 stations in an initiative to implement the smart-grid mechanism.
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