Index Trends And Stocks In Action For March 28, 2014

Indian Equity market witnessed choppy trading in last trading session. However, the markets are on a life time high as most of the roll over saw buying. This indicates that in the medium term scenario it may remain on the positive side. The Nifty closed around the technical level of 6640. The market moved exactly as per our expectation, as we mention in our last update that March expiry session is likely to happen around the 6620-6640 level.

In the present scenario, bears run to take some cover as bulls continue to show their strength. On downside important support for Nifty stands at 6580/6540 level. On other hand if the Nifty holds the 6600 level, the doors are already opened for the level 6700 and above.

Infosys (BSE Code: 500209) has signed a three-year contract with Prime Therapeutics to set up a testing centre of excellence ( COE) and consolidate the delivery of its application testing services. Prime Therapeutics is a pharmacy benefit manager (PBM), which generally process prescriptions for the groups that pay for drugs, like insurance firms and negotiate with drug makers and pharmacies. The stock may remain in action in today's trade.

Infrastructure firm Sadbhav Engineering (BSE Code: 532710) has won a Rs 212 crore highways project from NHAI in Rajasthan. The Company has been declared the successful bidder in respect of the bid invited by National Highways Authority of India (NHAI) for widening and strengthening of Jodhpur- Barmer Section of NH-112. The project falls under National Highway Development Project (NHDP), phase IV to be constructed under EPC. The stock may witness some buying activity in today's trade.

Infrastructure financing company, Srei Infrastructure Finance (BSE Code: 523756) has informed that the Reserve Bank of India has given it an approval for setting up 9,000 white-label ATMs in the next three years in the rural India. Initially, a pilot roll out of 200 WLAs in Tier 3, Tier 4 and Tier 5 towns would be done in the next six to eight months before it was scaled up. The stock may remain in limelight in today's trade.

The country's largest power producer NTPC (BSE Code: 532555) has set a target of importing as much as 15 million tonnes of coal in the next financial year (2014-15). The target may be lowered if Coal India (BSE Code: 533278) increases its production. Both the stocks may witness volatile trades in today's session.