Tracking the momentum, the 50-share Nifty index was trading close to its crucial support level of 6750, led by losses in autos, realty, banks and capital goods stocks.
At 10:20 a.m.; the 50-share index was trading at 6760, down 22 points or 0.33 per cent. It touched a high of 6,783.20 and a low of 6,758.40 in early trade today.
The S&P BSE Sensex was trading at 22,629.23, down 58 points or 0.26 per cent. It touched a high of 22,721.36 and a low of 22,620.42 in trade today.
"On the upside the level of 6865 would continue to remain as a stiff resistance for the index, however in the event 6865 is also surpassed then it may scale higher till 6914," GEPL Capital said in a report.
"Going forward, a key support is placed at 6700 for the immediate term and below that 6650 is the trend reversal level and a breach of which imply a reversal for short term," added the report.
The brokerage firm is of the view that in such a case a decline till 6480 - 6550 may be seen as a possibility. Traders with long positions need to maintain a strict stop loss of6650 for their existing positions
Here is a list of ten stocks which are in focus in trade today:
Siemens Ltd: Siemens Ltd, a flagship company of Siemens AG, reported a nearly two-fold growth in net profit at Rs 88.3 crore for the January-March quarter even as sales declined during the period.
At 10:20 a.m.; the stock was trading 1.9 per cent lower at Rs 754.45.
IL&FS Transportation Networks Ltd: The Rs 524 crore rights issue of IL&FS Transportation Networks will open on Monday and the proceeds will be utilised mainly for repaying loans.
At 10:20 a.m.; the stock was trading 0.4 per cent lower at Rs 136.
Bajaj Auto Ltd: The Bombay High Court on Friday has re-directed the writ petition filed by Bajaj Auto back to Industrial Tribunal, Pune. According to Bajaj Auto, the settlement dated 21 May 2010 is still effective and valid till 31 March 2019.
At 10:20 a.m.; the stock was trading 0.7 per cent lower at Rs 1981.50.
Reliance Industries Ltd: Reliance Industries ( RIL) on Friday told the Supreme Court that it would seek an injunction from an arbitration panel against auction of five blocks in the KG D6 basin which it had relinquished under protest.
At 10:20 a.m.; the stock was trading 0.4 per cent lower at Rs 951.50.
Axis Bank Ltd: Axis Bank reported a 18 per cent jump in profit at Rs 1,842 crore for the fourth quarter ended March 2014. The country's third largest private sector lender had posted a post-tax net of Rs 1,555 crore during the corresponding quarter of 2012-13.
Copyright © 2014 Times Internet Limited. All rights reserved.
No comments:
Post a Comment