Twelve stocks in focus in Monday morning trade

NEW DELHI: Indian markets are likely to trade in a range with a positive bias on Monday tracking strong global cues. The immediate support level for Nifty is around 5780.

"The Nifty is expected to head lower till 5753. In this period it will find a key support at 5780 and face resistance at 5860," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

"The Nifty has faced resistance around the 40-daily moving average (DMA) and been forming lower tops and lower bottoms on the daily chart," he added.

Mehta is of the view that the short-term bias for the benchmark index remains negative for a target of 5630 with reversal around 5972. The medium-term outlook too remains negative with reversal above the 40-DMA.

Here is a list of twelve stocks which are likely to remain in focus in morning trade:

Infosys Ltd, after the IT major shareholders welcomed the re-appointment of company's co-founder N R Narayana Murthy as Executive Chairman, but expressed disappointment over the firm's performance.

M&M Ltd, after India's largest utility vehicle manufacturer, on Saturday announced a multi-structured deal under which it will pick up 13.5% stake in Spain's auto component maker CIE.

Dabur Ltd, after the FMCG major said the products on which US Food and Drug Administration has issued import alerts were unauthorised exports by an independent exporter and the company has taken up the matter with the health regulator.

Sterlite Industries Ltd, after the country's biggest copper smelter is likely to re-open on Sunday after a two-month shutdown which was prompted by complaints from nearby residents about its emissions and has caused tightness in supply of the metal.

BPCL, HPCL and IOC will be in focus after petrol prices was hiked on Saturday by a steep Rs. 2 a litre, the second increase in rates this month, as devaluation of rupee against US dollar made imports costlier.

Tata Motors Ltd, after the global auto giant said on Sunday that its global sales, including Jaguar Land Rover, in May stood at 81,783 units.

Jet Airways Ltd, after the government on Friday deferred clearance of the Middle-Eastern carrier Etihad's proposal to buy a 24 per cent stake in Jet Airways saying it needs clarity on the ownership structure and the level of control to be exercised by the UAE giant.

Reliance Power Ltd, after the electricity regulator CERC will hear the petition filed by Reliance Power for revision of tariff from its Krishnapatnam project in Andhra Pradesh by July end.

Coal India Ltd, after the state-owned monopoly miner is seriously considering acquisition of two Australian companies for over $4 billion (about Rs 23,000 crore), a move that will enable it to import 28 million tonne high quality thermal coal a year.

SpiceJet Ltd, after the promoter Kalanithi Maran, who has a 52% stake in the airline, may divest a part of his holding by selling equity to long-term investors and not just foreign airlines, media reports said.