Index Trends And Stocks In Action For May 02, 2014
DSIJ Intelligence / 02 May 2014
In the present scenario, bulls and bears continues to show their own strength. On downside important support for Nifty stands at 6610/6580 level. On other hand if the Nifty breaks 6780/6820 levels, the doors are will open for the level 6900 and above.
Indian Equity market witnessed with a big choppy action in last trading session. We had seen bulls and bears fight though of the day which is also indicating towards a medium term scenario where we may remain on the both side as well as in extreme volume. The Nifty recovered from its major support level which is 6650 and closed around the technical level of 6700.
In the present scenario, bulls and bears continues to show their own strength. On downside important support for Nifty stands at 6610/6580 level. On other hand if the Nifty breaks 6780/6820 levels, the doors are will open for the level 6900 and above.
Suzlon Energy (BSE Code: 532667) world's 5th largest wind turbine maker, hopes to get orders for 300-500 MW this fiscal following changes in renewable energy policies in states like Rajasthan and Madhya Pradesh. The major markets for new projects in India are states like Rajasthan, Madhya Pradesh, Seemandhara and Gujarat. The stock may remain in focus in today’s trade.
Gold financier Muthoot Finance (BSE Code: 533398) which has entered the white label ATM space, has sought Reserve Bank's permission to pre-load a part of a gold loan in dedicated cards. Such a scheme will benefit both the company as well as borrowers, he said, adding interest charging can start after the withdrawal of the amount. The stock may remain in limelight in today’s trade.
Country's largest two-wheeler maker Hero MotoCorp (BSE Code: 500182) reported a 14.41% increase in its total sales at 5,71,054 units in April 2014. It had sold 4,99,113 units in the same month last year, Hero MotoCorp. The stock may trade with a positive bias in today’s trade.
Footwear company Bata India (BSE Code: 500043) reported 2.44% increase in standalone net profit at Rs 39.4 crore for the quarter ended March 31, 2014. The company had reported a net profit of Rs 38.46 crore in the corresponding period last year. Bata's net sales rose by 9.14% to Rs 495.12 crore for the quarter under review as against Rs 453.63 crore in the corresponding period a year ago. The stock may remain in action in today’s trade.
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