Index Trends And Stocks In Action For August 11, 2014

Indian Equity market continues to drift downwards for the third straight trading session as indices shed 2.5% in the past three trading sessions. Global weakness, rising geopolitical tension coupled with weakening Indian currency dampened sentiment on the D-street. Nifty on daily chart is nearing its crucial support of 7540, which is its 50 day EMA.

Last time when Nifty touched it’s high of 7809 as on 08th July, 2014 it witnessed correction and after this healthy correction, Nifty took support around 50-day EMA and bounced back sharply to hit fresh high. Similar is the situation now, if bulls manage to defend this support of 50-day EMA there are chances we could bounce back sharply.  For day trading important support for index is at 7540 and next support is around 7470. On upside resistance for index stands at 7610 and next resistance is around 7645.

After 30 years of selling cars and revolutionising personal transportation in India, Maruti Suzuki India (BSE Code: 532500) is embarking on its next phase of journey with an eye on selling three million vehicles annually. Spelling out the road map for the next 30 years -- Maruti 2.0 -- Maruti Suzuki India management in the public domain said that the would be at the forefront of the efforts to make India a significant player in the global market place. The stock may witness buying activity in today’s trade.

Surya Roshni (BSE Code: 500336) aims a turnover of Rs 1,800 crore from its lighting division in the next four years. The company, which has recently forayed into the light emitting diode (LED) segment, is expecting a good traction from the new business. The stock may trade with a positive bias in today’s trade.

Sanwaria Agro Oils (BSE Code: 519260) is targeting 60 per cent revenue from its branded segment in three years and is planning to launch rice bran oil in six months.  At present, the Madhya Pradesh-based edible oil maker gets 15% revenue from the branded segment and 85% from bulk business. Sanwaria Agro Oils is planning a capex of up to Rs 300 crore for the next two years subject to the approval of shareholders. The stock may remain in focus in today’s trade.

Siemens (BSE Code: 500500) has bagged orders worth Rs 228 crore from Reliance Industries for supplying steam turbine generation units to its Jamnagar refinery in Gujarat. The orders are for supply of four steam turbine generation units. The stock may remain in limelight in today’s trade.