Index Trends And Stocks In Action For March 26, 2014

Indian markets witnessed range bound trading in the last trading session. FIIs and DIIs staying on sidelines as they are conscious on the present levels of 6600 and following some wait and watch strategy. The Nifty closed around the technical level of 6600. Nifty has taken major support at lower level around the 6560/6530 and hovering around these levels since last 3-4 days.

In the absence of any major triggers, we may see the indices consolidating in the same range. Going forward, bulls will be in full action if Nifty opens and manage to sustain above 6620 level. On downside important support for Nifty stands at 6540, as long as Nifty manages to hold on this supports no immediate panic for the bulls. On other hand if the Nifty witness any selling, trader advice to conscious below 6520/6500 these levels.

As online sales become increasingly popular in India, Havells India (BSE Code: 517354) plans to use this platform from next financial year to propel its sales. The company, which recorded a 30% jump in net profit compared to a 12% increase in sales in the first nine months of current fiscal, attributed a host of reasons including price discipline, improved margins and a healthy product mix with focus on consumer segment. The stock may in focus in today's trade.

Idea Cellular (BSE Code: 532822) has launched a music application. The application - musicHUB - permits subscribers to download music, stream songs and also create personalised playlists in their preferred language. The advertisement-free service also enables users to share songs via SMS, e-mail and across social networking platforms, the company said in a release. The stock may remain in limelight in today's trade.

Country's largest commodity exchange MCX (BSE Code: 534091) may be barred from launching fresh contracts if it fails to bring down promoter's stake to 2%. Sectoral regulator Forward Markets Commission (FMC) might crack the whip on MCX in case the bourse fails to comply with its directive on reducing promoter shareholding which came in the wake of Rs 5,600 crore payment crisis at NSEL. The stock may witness some selling pressure in today's trade.

Dena Bank (BSE Code: 532121) will raise Rs 366 crore through a preferential allotment of shares to the public sector insurers Life Insurance Corporation of India and General Insurance Corporation. Life insurance giant LIC will be putting in Rs 282 crore as part of the capital raising programme, while GIC will invest Rs 84 crore. The stock may remain in focus in today's trade. 

After the success of Celerio, Maruti Suzuki India (532500) is ready with yet another launch, the mid-sized Sedan Ciaz. The company will be launching it in Q2FY15. Celerio has done phenomenally well even during the slowdown. The car has 30,000 bookings. And with March being a traditionally a good month, the company expects to better its February sales numbers. The stock may witness some buying interest in today's session.