Index Trends And Stocks In Action February 28, 2015

DSIJ Intelligence / 28 Feb 2015

Index Trends And Stocks In Action February 28, 2015

Indian Equity market witnessed a surprisingly optimistic trading session in last day trade. The Nifty closed at higher level around 8844 up by 160 points. On daily chart nifty formed a bullish engulfing candlestick pattern along with higher volumes after broke 8800 level. In the present intraday scenario, indices in the grip of the bulls remain same above 8770/8800 levels. On downside the levels of 8720/8680 will be act as immediate support levels. Alternatively in the present scenario the doors are already open for 9000 and above mark.

Indian Equity market witnessed a surprisingly optimistic trading session in last day trade. The Nifty closed at higher level around 8844 up by 160 points. On daily chart nifty formed a bullish engulfing candlestick pattern along with higher volumes after broke 8800 level. In the present intraday scenario, indices in the grip of the bulls remain same above 8770/8800 levels. On downside the levels of 8720/8680 will be act as immediate support levels. Alternatively in the present scenario the doors are already open for 9000 and above mark.
Two and three-wheeler manufacturer, TVS Motor (BSE Code: 532343) has partnered with Kangra Central Co-operative Bank in Himachal Pradesh to finance purchase of its two wheelers. Kangra Central Co-operative Bank is one of the largest banks in the state.
Aditya Birla Nuvo (BSE Code: 500303) shut its urea plant in Uttar Pradesh for about a month as cost of production beyond capacity has become unviable due to the current policy of the government. The plant is expected to resume operations in the first week of April, as per BSE filing.
Canara Bank (BSE Code: 532483) will raise Rs 570 crore through preferential allotment of shares to the government to fund its business growth. The issue price for the preferential allotment would not be less than Rs 408.95 per share of the face value of Rs 10 each, as per media reports.

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