Index Trends And Stocks In Action March 4, 2015

The Indian Equity market continued its bullish momentum for the fourth successive trading session. Tuesday’s session rally was driven by index heavyweight like TCS, Reliance and HDFC. Technically, after opening in positive territory and consolidated for the most part of trading session, nifty index saw some buying in last hour trading session which helped index to claim fresh life time high. In last couple of trading sessions it’s been witnessed that traders and investors are following a caution approach at higher levels.  The daily momentum oscillator like 14 period RSI is trading at upper band above 70, but negative divergence pattern have been identified. One may possibly see some consolidation or choppy trade in index in coming trading session. For day trading nifty will face resistance in zone of 9045-9080. On downside support for index is in range of 8940-8880.

Gautam Adani led Adani Ports & Special Economic Zone (BSE Code: 532921) is said to be in talks with Essar Group to acquire its ports business. According media reports, early stage discussions have been ongoing between both sides and may soon progress to a formal diligence.

Bharti Airtel (BSE Code: 532454) has entered into a partnership with China Mobile, the world's largest telco, for jointly sourcing devices and equipment as well as developing 4G technology and standards, a development which will help India's biggest telecom operator take on Reliance Jio Infocomm.

Crompton Greaves' (BSE Code: 500093) Board has approved demerger of its consumer products business into a separate listed company, Crompton Greaves Consumer Electricals (CGCEL), from October 1.