Index Trends And Stocks In Action December 02, 2014

The Indian markets began the week on muted note and drifted lower as the day progressed. Weak global cues and profit booking in Oil & Gas heavy weight like Reliance and ONGC tanked market lower. Technically index has taken breather after a sharp rally on Friday; this sideways price action has cooled off the hourly oscillators and has created some scope for further upside. For day trading important support for index is placed at 8520 and next important support is 8460. However important swing support and trend reversal is placed around level of 8410-8420. If index sustains below this level then chances are for further correction up to levels of 8330. On upside 8630 will act as resistance.  Investors and Traders will keep a keen eye on RBI Credit Policy announcement and this will set the tone for the equity market.

Tata Motors (BSE Code: 500570) reported 2% increase in total sales at 41,720 units in November, as against 40,863 units in the same month last year. Domestic sales of Tata commercial and passenger vehicles remained flat at 37,427 units as compared to year-ago period. Sales of passenger vehicles in the domestic market in November stood at 12,021 units, up 16% from 10,376 units in the same month last year. In the commercial vehicles segment, domestic sales declined by 5% to 25,406 units during the month from 26,816 units in November last year.

Riding on strong demand for its exciting range of products, Hero MotoCorp (BSE Code:500182) has clocked over five lakhs of units of two-wheelers in the month of November. The company despatched 547413 units of two-wheeler in November 2014. In the corresponding month last year, Hero MotoCorp registered 530530 unit sales. In November 2014, Hero MotoCorp also launched its operations in Colombia. The company introduced six of its best-selling motorcycles through a network of 120 outlets. Hero plans to expand its distribution network to over 150 outlets in a year’s time.

Shares of Infosys (BSE Code: 500209) will turn ex-bonus on Tuesday (Today) at the bourses. The IT major is rewarding its shareholders with a 1:1 bonus shares (one share for every one share held). Infosys, which closed at Rs 4,348.95 on the NSE, will start trading around Rs 2,150-2,200 range from Tuesday. Those who are buying the shares from Tuesday will not be eligible to receive the bonus shares. This will be the third bonus issue by Infosys in the last 10 years after 2004 (3:1) and 2006 (1:1) issues.