Index Trend and Stock in action April 04, 2016
Chirag Gothi / 04 Apr 2016
We expect market to trade in this range for today. The daily momentum oscillator RSI is trading near key area of 60 levels. As long as RSI stays above 60 levels, the momentum will stay in favour of the bulls.
The Indian market began the new financial year 2016-17 i.e. FY17 on a calm note as speculators remained largely influenced by the unnerving sentiments prevailing in the Asian markets. Market made a few endeavours to hook back into the positive domain, however profit taking at higher levels dragged indices lower and the market ended with marginal losses. On the daily time frame, Nifty formed a ‘Doji’ candle, which is indicating confusion amongst the market participants. Now going forward Nifty has strong support placed around levels of 7640. On the upside, strong resistance for the Nifty is placed in the zone of 7770-7790. We expect market to trade in this range for today. The daily momentum oscillator RSI is trading near key area of 60 levels. As long as RSI stays above 60 levels, the momentum will stay in favour of the bulls.
HCL Technologies: HCL Tech agreed to buy all of the business done by Mumbai-based software firm Geometric, leaving apart a joint venture the latter has with Dassault Systems SA, in a share-swap deal valued at $190 million.
Atul Auto: Atul Auto total sales stood at 3,303 units in March as against 3,222 uunits (YoY).
Hero Motocorp: Hero Motocorp country’s largest two wheeler maker has reported 14 per cent increase in sales at 6, 06,542 units in March. The company had sold 5, 31,750 units in March, 2015.
Den Networks: Den Networks is planning to sell its 55 per cent stake in Den Sports for Rs 43.3 crore to Wall Street Investment.
ITC: Cigarette maker ITC has informed that it has closed down its cigarette factories until “clarity emerges” on the rules related to Health warning. A Parliamentary Committee, in its report tabled in the Lok Sabha on 15th March, recommended that the new health warnings are to be printed with larger font on its cigarette packs.
TVS Motors: Chennai based TVS Motors posted a sales growth of 10 per cent during the month of March 2016 with total sales increasing from 2, 11,005 units recorded in the month of March 2015, to 2, 32,527.
Tata Motors: Tata Motors saw its passenger vehicle sales dip to 8,454 units in March, which is a huge fall of 44 per cent from 15,039 units sold in March last year.If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.