Index Trends And Stocks In Action March 3, 2015

The Indian Equity market kicked off the first day of fresh month with a bash as it’s managed to end session at record closing highs. Buying interest was seen in Banking, Capital goods, Pharma and OMC stocks. On other hand, ITC continue to disappoint after excise duty was hiked on cigarettes. Index on daily chart has formed Doji candlestick pattern. In terms of market psychology, a doji indicates that there is indecision and uncertainty in the market with neither buyers nor sellers able or willing to move the price to significant levels, which would indicate a weakness in the current trend and a possible reversal. Now going forward if nifty manages to trade above 8910 level then traders many see continuation of up move in the index up to levels of 9000-9045. On other hand if nifty breach its support of 8910 expect a correction up to levels of 8860. 

Jubilant Life Sciences (BSE Code: 530019) has received final approval from the US health regulator for generic Montelukast Sodium chewable tablets used in the treatment of asthma and to relieve symptoms of seasonal allergies. 

TVS Motor Company (BSE Code: 532343) reported 15.14 per cent increase in total sales at 204565 units in February. The Chennai-based company had sold 177662 units in the same month last year. Total two-wheeler sales for the month grew by 14.8 per cent to 195509 units as against 170293 units in February 2014. 

Hero MotoCorp (BSE Code: 500182) today reported 3.8 per cent decline in sales at 484769 units in February. The company had sold 504181 units in the same month last year as per the company’s BSE announcement. Hero MotoCorp said in a statement. Hero MotoCorp is set to launch a slew of new models in the coming months, including a range of scooters.