Index Trends And Stocks In Action For March 19, 2014

Indian Equity market despite opening on a optimistic note and recording their new life time highs in early trade the indices ended the session just marginally up on Tuesday as traders and investors chose to book profits in last hour of trade. The Nifty closed at 6516 gaining 12 points. In today's trading session nifty did manage to cross multiple top made on daily chart but did not sustain above that level and went on to close with marginal gains, this suggest that investors and traders are not confident buying at higher levels and higher levels are used for profit taking. Going forward 6550 will act as strong resistance and next resistance around 6580. On downside 6490 will act as strong support and next support around levels of 6455.

Zensar Technologies (BSE Code: 504067) has bagged new multi-million dollar deals in the US and Europe. The deals signed include one with a multi-billion dollar American enterprise that designs and builds trucks and military vehicles as well as a dual shore IM deal with an existing American client. The stock is likely to remain in focus in today's trade.

Infosys (BSE Code: 500209) has signed a five-year deal with Swedish firm Lansforsakringar AB (LFAB) to provide application development and management support for its life and non-life insurance business. Lansforsakringar AB is owned by Lansforsakringar Alliance, a mutual organisation of 23 regional insurance companies. The stock may remain in limelight in today's session.

NHPC's (BSE Code: 533098) 130 MW Parbati project in Himachal Pradesh will now supply electricity to the National grid. Unit-III of Parbati hydro electric project has been synchronized with grid and commissioned at full load of 130 MW. It has over 3,000 MW worth of projects which are under various stages of construction. The company is awaiting regulatory clearances for 10 projects totalling over 8,000 MW capacity. The stock may remain in limelight in today's session.

AstraZeneca Pharma India's (BSE Code: 506820) board has approved delisting of the company's shares from bourses, including BSE and the National Stock Exchange. AstraZeneca Pharmaceuticals AB for a voluntary delisting offer to public shareholders from BSE, NSE and Bangalore Stock Exchange. The stock may witness higher volumes in today's trade.

Tech Mahindra (BSE Code: 532755) has been selected by Volvo Car Group to provide IT infrastructure and application maintenance services for its operations in countries such as Sweden, China and Belgium. The arrangement would cover 2,800 servers across the IT functions at the Swedish automaker's regional offices, factories, global datacenter, manufacturing, research and development. The Mahindra group company said that it is a multi-year, multi-million dollar contract but did not disclose the actual deal size. The stock may witness some buying interest in today's session.