Index trend and stocks in action March 2, 2016

The Indian market started off the first trading session for the month of March on an idealistic note. Soon after the opening, the market surged above 7100 mark owing to hopes of a rate cut, and markets built on the gain enrolling a glittering rally of over 3 per cent. On the daily chart the index has formed a potential Bullish Marubozu, which demonstrates strength of the bulls.  The Daily RSI after forming positive divergence on the Budget day has turned up and is quoting around 50 levels, and this display is the start of a renewed optimism. Now going forward the index has strong resistance in the zone of 7250-7275. Once this zone is crossed by the bulls, it’s likely to test levels of 7330 on the upside. On other hand immediate support for the index is placed around levels of 7170.

Vakrangee:  Vakrangee is to set up a strategic tie up with Indian Oil Corporation (IOC). The company will set up Vakrangee Kendra at IOC’s retail outlets in Uttar Pradesh.

Cipla: Cipla transferred its consumer healthcare business to its arm Cipla Health with effect from the close of business hours on February 29, 2016.

IRB Infrastructure Developers: The company which recently won the bid to build South Asia's longest tunnel road in Jammu and Kashmir. The government has cancelled the awarded project without mentioning any reason.

Wipro: Wipro has completed its USD 460 million acquisition of HealthPlan Services, at a very premature stage.

Hero MotoCorp: India's largest two wheeler manufacturer, Hero Motocorp reported a healthy 13 per cent growth in February sales numbers. The company sold 550992 units of two-wheelers  during the month of February as compared to 484769 units in the corresponding month last year.

TVS Motor Company: The company posted a 7.28 per cent increase in total sales at 219467 units in February month as compared to same period in previous fiscal year.