Index Trends And Stocks In Action February 24, 2015

The Indian markets ended in negative terrain as heavy selling in late afternoon trade wipe down early morning gains. Investors and traders have switched to cautions mode ahead of railway and union budget. Nifty on daily chart has formed a strong bearish candlestick along with average volumes; this hints bear’s have started gaining momentum. The index has managed to hold on to its crucial support level which is placed around level of 8720, which is 21-day EMA as well.  Now going forward if bulls defend level of 8720, expect a pullback rally up to levels of 8790-8830. If support of 8720 is breached expect a fresh wave of selling which will take index up to levels of 8645-8600.

Infosys (BSE Code: 500209) is about to make its second startup investment this year, in a firm that makes air quality detectors as India's second-biggest software company doubles down on identifying next generation technologies under the new CEO Vishal Sikka.

Maruti Suzuki (BSE Code: 532500) launched refreshed version of its popular compact sedan Dzire with introductory prices ranging from Rs 5.07 lakh to Rs 7.81 lakh (ex-showroom Delhi). Besides new styling, comfort and convenience features, the new DZire offers enhanced fuel efficiency.

Avantha Group company Cropmton Greaves (BSE Code: 500093) has bagged a USD 20 million (approximately Rs 124 crore) contract from Indonesian firm PT PLN for setting up power transmission infrastructure. The company has received an order from PT PLN for setting up a total of 36 transformer bays around Indonesia.