– Crompton Greaves FUT is trading at support with negative indicators. If CG gives closing below 158 then it is expected to hit 148 level, its next support level, a return of 5 plus percent. Current support of 158-160 is important from CG’s deliverable holding’s point of view.
– Indian markets are expected to trade flat to negative. Stocks specific trading is suggested for the day. Adani ports is expected to clinch a project worth 350 crores; earlier JSW steel too was in the race but later in the evening yesterday, JSW steel clarified and call the news as rumour. Tata Motors is expected to go further down on behalf of weak results; JLR has seen decline in profits. JLR contributes massively in Tata Motors earnings. Banks likely to remain positive today. INR seems to be gaining strength today. OMCs could surge up if Crude falls down. COMEX Gold is in range of USD 1250 – USD1272; MCX Gold is expected to move further down if INR, as suggested gains strength.
Today Market Report
In line with markets of equity, the rupee fell down by 3 paise to 61.76 against the American currency on fresh demands of dollar from importers and banks.
Infosys Shares ended maximum by 1.6 per cent on the Bombay Stock Exchange (BSE) after Infosys BPO secured an IT services best deal with Dutch insurance firm a.S.R. services for supporting back-office operations. Among its peers, TCS and Wipro gained 0.75 each
Shares of Infrastructure Ltd (HDIL) and Housing Development has rallied 6 per cent to Rs 112 on National Stock Exchange (NSE) in otherwise subdued market after the FII (foreign institutional investor) obtain stake in the company through open market.
Cipla shares are trading maximum by 2 per cent to Rs 675 on the Bombay Stock Exchange (BSE) on reports stating that the pharmaceutical major, Pune-based unlisted Serum Institute and Cipla will plan a marketing tie up under which Cipla will sell Serum’s products in chosen abroad markets.