According to dealers, the trade is likely to remain choppy in absence of cues from global peers and as traders square-off open positions.
At 10:05 a.m.; the 30-share index was at 19,932.18, up 12 points or 0.06 per cent. It touched a high of 19,978.49 and a low of 19,897.15 in early trade.
The Nifty was at 5,891.95, down 1.5 points or 0.01 per cent. The index touched intraday high of 5,910.40 and a low of 5,885.45.
“The Nifty is expected get support around 5855 and resistance will be at 5935,” said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
“The Nifty has completed a five-wave pattern from 5118 to 6142 and is now expected to retrace the entire rally till the 40-weekly moving average (WMA), ie 5755,” he added.
Mehta is of the view that the short term bias for the Nifty remains negative for a target of 5755 with reversal around 6150.
The medium-term outlook remains positive because the Nifty has retraced 61.8% of the previous rally from 4770 to 6229 and is trading above the 20-WMA and the 40-WMA, ie 5822 and 5755 respectively, he added.
Here is a list of ten stocks which are in focus in trade today:-
Tata Motors Ltd: Tata Motors-owned Jaguar Land Rover (JLR) today announced a multi-million-pound investment in research and development in the UK that will be focused on a state-of-the-art centre at the University of Warwick campus.
At 10:05 a.m.; the stock was trading 2.4 per cent higher at Rs 344.75.
Tata Consultancy Services Ltd: TCS said it would set up an all-women business processes outsourcing centre in Saudi Arabia, a conservative Islamic nation where women must be accompanied by a male relative when in public and are not allowed to drive.
At 10:05 a.m.; the stock was trading 0.6 per cent lower at Rs 1,927.75.
Hexaware Technologies Ltd: Approving one of the biggest deals in the Indian IT space, fair trade watchdog CCI has cleared Baring Private Equity’s proposed acquisition of controlling stake in outsourcing firm Hexaware Technologies, saying the transaction will not adversely impact competition.
At 10:05 a.m.; the stock was trading 1.4 per cent higher at Rs 128.65.
Kingfisher Airlines Ltd: Criris-hit KFA said it is in talks with a foreign investor for potential stake sale, its Chairman Vijay Mallya said on Tuesday. The stock gained nearly 10 per cent on Tuesday and is likely to see further traction on Wednesday.
At 10:05 a.m.; the stock was trading 9.9 per cent higher at Rs 5.65.
Ashoka Buildcon Ltd: The company said it has received orders valued at Rs 494.50 crore from Maharashtra State Electricity Company Ltd (MSEDCL).
At 10:05 a.m.; the stock was trading 3.6 per cent higher at Rs 46.65.
Fertiliser stocks: The total fertiliser subsidy budget for the fiscal 2013-14 is anticpated to be in the range of Rs 65,000-70,000 crore excluding carryover subsidy of last years, a ratings agency said in a report.
At 10:05 a.m.; Coromadel International Ltd was trading 0.1 per cent higher at Rs 221.05.
Financial Technologies Ltd: Just a day before Financial Technologies (FT), the MCX Group’s flagship company, planned to meet its shareholders at the annual general meeting in Mumbai, its auditor Deloitte Haskins and Sells has withdrawn its audit report saying that the company’s standalone and consolidated results are not to be relied upon.
At 10:05 a.m.; the stock was trading 5.6 per cent lower at Rs 157.80.
Unitech Ltd: The world’s largest property investor, Blackstone, has agreed to buy out a 3.6-million-sqft IT SEZ in Gurgaon, partly owned by Unitech, for 2,600 crore.
At 10:05 a.m.; the stock was trading 0.9 per cent higher at Rs 16.85.
SAIL: State-owned steelmaker SAIL has tied up with Siemens to upgrade the technical competence of its work force. Siemens will offer training in automation, DC/AC servo drives, switchgears and other related technologies such as process instrumentation and mechatronics at the steel major’s units in Bhilai, Bokaro, Durgapur, Rourkela, Burnpur, Salem, Bhadravati and Kolkata.
At 10:05 a.m.; the stock was trading 0.4 per cent lower at Rs 52.20.
Hindustan Motors Ltd: Crisis-ridden Hindustan Motors, a C K Birla group company, is gearing up for the launch of a small car in the next fiscal, its MD and CEO Uttam Bose said on Tuesday.
At 10:05 a.m.; the stock was trading 1.4 per cent higher at Rs 8.67.