Index Trends And Stocks In Action November 28, 2014

The Indian markets remained muted for most part of the day, but did witness some action in last half an hour of trading. BHEL, PNB and Hindustan Unilever were the top gainers. Nifty continues to consolidate for the second trading session. Now going forward 8410 would act as an important support for index and next important support is placed around 8350. On upside 8535 will act as strong hurdle for the bulls. If bulls manage to cross this hurdle expect good rally may be up to level of 8580.

Amtek Auto, Bosch, Engineers India, Indiabulls Housing Finance, Strides Arcolab and Wockhardt into the derivative segment from November 28 (Today). With the inclusion in the F&O segment, these stocks will become more liquid, as smart traders and arbitrage funds will try to benefit from mis-pricing between cash and derivative prices. These stocks will not attract circuit filter hereafter.

Shares of Godfrey Phillips (BSE Code: 500163) will remain in focus on today, as it’s subdivide each share of face value Rs 10 to 5 shares of face value Rs 2 each. The stock, which closed at Rs 3,054.85 on the BSE on yesterday, will start trading in the range of Rs 600-625 post-stock split. Those buying the shares from Friday will not get stock-split shares.

IL&FS Engineering and Construction Company (BSE Code: 532907) will remain active, as its board is meeting on Friday to consider additional fund-raising options.