Index Trends And Stocks In Action For December 09, 2013

Indian Equity markets opened on a positive note but after the indices witnessed some direction less movement. However it continues with upward journey and closed above the technical level of 6250. At the current scenario we had seen a war between bulls and bears albeit indices were volatile in the small range. Going ahead market may see one side movement with extreme volumes. Nifty has first hurdle around levels of 6290-6320 and if Nifty closes above this level than gates for 6380 will be opened. On downside immediate supports at 6220 and 6180. Our advice for trader, that please trade with strike stop loss.

Pursuing its overseas expansion strategy, Coal India (CIL) is actively looking at as many as five proposals for acquisition of mines in Indonesia. CIL's overseas plans come at a time when the company is facing flak for acute shortages of coal, which is hurting country's key sectors including power and fertiliser. The stock may remain in focus for today’s trade.

Tata Motors plans to hike prices of its passenger vehicles by about 1% from next month. The Mumbai-based company, however, is currently reviewing the market situation with regards to its commercial vehicle business for a similar step and will take a call later. The stock may witness some buying in today’s trade.

Accepting the industry demand, the Department of Telecom has amended the unified telecom licence to do away with the clause which operators claimed mandated 'forced migration' to the new regime. The initial unified licence (new regime) mandated operators to migrate all their telecom licences to the new regime on expiry of one in any of their circles, which the industry had dubbed as 'forced migration'. Under the initial version of unified licence, Bharti Airtel and Vodafone were the first set of companies which needed to move all their existing permits to new regime by the last quarter of 2014. Airtel's two licences, Delhi and Kolkata, and Vodafone's three licences - Delhi, Kolkata and Mumbai - are due to expire in last quarter of 2014. Post-amendment, the two operators do not need to shift all their existing licences to new regime by last quarter of 2014. Based on this news Bharti Airtel is likely to trade with a positive bias in today’s trade.

Mahindra & Mahindra is looking ‘beyond tractors’ to offer a rice transplanter and a range of tractor-drawn equipment including a new series of rotavators. The company is also considering significant investments in micro-irrigation equipment. The company has announced plans to invest over Rs 7,500 crore across its diverse range of businesses over the next three years. The stock may trade with a positive bias in today’s trade.