Ten stocks in focus in Tuesday morning trade

NEW DELHI: Indian markets are likely to trade in a range with a positive bias on Tuesday. The key support level for the index is placed at 6,054 levels.

"The Nifty is expected to trend down till 6054. In this period the key support will be at 6054 and resistance will be at 6179," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

"The Nifty has entered the correction mode facing resistance from the daily as well as the weekly upper Bollinger Bands," he added. On the way down the Nifty has broken the 20-daily moving average (DMA) on a closing basis which suggests that bears have the upper hand from the short-term perspective.

Mehta is of the view that the medium-term outlook remains positive as the Nifty has retraced 61.8% of the previous rally from 4770 to 6229. The momentum indicator on the weekly chart has given a positive crossover.

Here is a list of ten stocks which are likely to be in focus in trade today:

Apollo Hospitals: The hospital chain is expected to report a 5 per cent increase in its net profit to Rs 87 cr for the quarter ended September 30, as compared to Rs 83 crore reported in the year-ago period.

Reliance Communications Ltd: The telecom operator is expected to report a net profit of Rs 130 crore for the quarter ended September 30 as compared to Rs 108.40 crore reported in the year-ago period.

Fortis Healthcare Ltd: The company is expected to report a net loss of Rs 69 crore for the quarter ended September 30 as compared to Rs 28 crore reported in the year-ago period. '

Hindalco Industries Ltd: The company is expected to report a 25 per cent jump in its net profit number to Rs 450 crore for the quarter ended September 30, as compared to a net profit of Rs 359 crore reported in the year-ago period.

IOC Ltd: Government will tomorrow begin roadshows in US for sale of its 10% stake in nation's largest oil firm, Indian Oil Corp (IOC), that may fetch as much as Rs 3,900 crore.

Apollo Tyres Ltd: Apollo Tyres Ltd, which is in the process of a $2.5-billion buyout of Cooper Tire & Rubber Co said on Monday that its net profit surged by 44% to Rs.219.5 crore for the three months ended September 2013 against the corresponding period last year largely due to operational gains.

Britannia Industries Ltd: The company posted a second consecutive rise in quarterly profit this financial year as an increase in sales and margins helped net profit for the quarter jump 66 per cent. The company's Q2 net profit rose to Rs 97.7 crore from Rs 59.02 crore in the same quarter last year.

Reliance Infrastructure Ltd: Reliance Infra reported 12 per cent increase in its consolidated net profit at Rs 427 crore for the quarter ended September 30, 2013. The company had posted a net profit of Rs 382 crore in the corresponding quarter of previous year (2012-13).

Corporation Bank: Public sector lender reported July-September quarter net profit dropped 96.2 percent year-on-year to Rs 15.5 crore on increase in provisions. Provisions and contingencies jumped 56.6 percent sequentially (up 160 percent on yearly basis) to Rs 700 crore in the quarter gone by.

Jain Irrigation Systems Ltd: The micro irrigation company said it has posted a net loss of Rs 80.7 crore on consolidated basis for the second quarter ended September 30.