Twelve stocks in focus in Monday morning trade

NEW DELHI: Indian markets are expected to trade in a range on Monday, tracking muted trend seen in other Asian markets and SGX Nifty.

The movement of the Nifty since 11th June 2014 till date has been occurring in falling channel pattern. The upside resistance is now at 7600, and this level is not only the immediate resistance but also the trigger point to add to the upward momentum in the market.

"Traders need to watch the nifty closely once it is around these levels. A failure to cross this level on a closing basis, would keep the nifty confined within the range of 7600 level on the upside and 7400 on the downside," said Mitesh Thacker of miteshthacker.com.

"In nutshell, above mentioned evidences suggest that a close above the 7600 levels could give a good upside spurt with likely targets of 7800 / 7900 levels in the short term," he added.

Thacker is of the view that the index has immediate support at the 7460 levels followed by the 7400 -- 7380 levels.

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

Reliance Industries Ltd: Grocery will be the sharp edge of Reliance Industries' e-commerce wedge. It plans to offer express deliveries of fresh fruit and vegetables to homes in Mumbai, making it the first such bid to bridge the last-mile connect by a large retailer.

IoB: Shareholders of the public sector Indian Overseas Bank approved its proposal to raise Rs 1,200 crore through qualified institutional placements (QIP).

SBI & BoB: The country's two biggest state-run lenders today pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.

UP based sugar mills such as Bajaj Hindustan, Balrampur Chini etc will be in focus after Uttar Pradesh gave an assurance that they will utilise incentives offered by the Centre, including interest-free loans, to clear dues to farmers that stands at nearly Rs 7,000 crore now.

Infosys Ltd: In the first top-level exit at Infosys after Vishal Sikka was named as its CEO, K Murali Krishna, Senior Vice President and Group Head of computers and communications division, has resigned.
Maharashtra based developers will be in focus such as HDIL, Oberoi Realty on reports that the Maharashtra government may grant additional FSI to realtors who adopt green building projects, Minister of State for Housing Sachin Ahir said here Friday.

Media reports also indicate that Maharashtra chief minister Prithviraj Chavan is mulling major push for big-ticket housing schemes for Mumbai. Leading the list will be amendments to the cluster development scheme, and affordable and inclusive housing. These are Chavan's pet schemes as they are the vehicles through which his government plans to meet its five-year target of 5 lakh houses, added media reports.
GAIL India Ltd: State gas utility GAIL suspended two senior company officials of its Andhra Pradesh office after a fire caused by a possible leakage in an underground gas pipeline killed 19 persons and injured several others.

Coal India Ltd: Putting speculation of breaking up state behemoth Coal India ( CIL) to rest, power and coal minister Piyush Goyal has said the new government will not split the world's largest coal miner but will work to smoothen the edges and improve its performance.

NTPC Ltd: State-owned NTPC is likely to commence production from its two captive coal mines -- Chatti-Bariatu and Kerandari -- in Jharkand by June 2016. However, its another mine -- Chatti-Bariatu (South) -- in the eastern state will be developed by 2038.