Index Trends and Stocks In Action For December 05, 2013
DSIJ Intelligence / 05 Dec 2013
Nifty already closed below its first support which was 6170 level. We had mention in our last update that below this level we may see bears getting upper-hand. Going ahead Nifty has a bearish signal around levels of 6120-6100 and if Nifty closes below this level then gates for 6000 will be opened. On the upper hand 6220-6250 will be the major hurdles.
Indian equity markets opened on negative note and saw a choppy trade at closing session. The indices also witnessed for the heavy volume on the selling side, indicates that it may breaks it vital support levels. Nifty already closed below its first support which was 6170 level. We had mention in our last update that below this level we may see bears getting upper-hand. Going ahead Nifty has a bearish signal around levels of 6120-6100 and if Nifty closes below this level then gates for 6000 will be opened. On the upper hand 6220-6250 will be the major hurdles.
Godrej Properties has bought back private equity firm Red Fort Capital's 49% stake in a subsidiary that is developing an IT Park in Kolkata, for an undisclosed amount. In 2008, Red Fort had picked up 49 per cent stake in the IT Park project 'Godrej Genesis'. The stock may remain in focus for today's trade and may witness some buying interest.
Eicher Motors plans to invest Rs 700 crore in the next 12-18 months as part of their joint venture (JV) with Swedish company Volvo. The company has invested heavily in new products, including new engines and is currently focussing on new parts distribution centre. VE Commercial Vehicles (VECV) is a 50-50 joint venture between the Volvo Group and Eicher Motors Limited, which is in operation since July 2008. The stock may witness some buying interest in today's trade.
Eros International Media announced its foray into the Telegu market by co-producing Mahesh Babu's '1' Nenokkadine. The movie is set to release on January 10, 2014. The stock prices of Eros International Media is likely to witness some buying interest among traders and investors in today's trade.
Accelya Kale Solutions has launched a comprehensive package to manage airlines' critical financial process which will include all flight revenue, process all card payments, manage entire billings and reconcile book-to-cash revenues for the airline. The package is named as Accelya All-in-One offer. The stock may witness some buying interest in today's trade following this development.
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