Stock Picking News

Markets opened gap down and then free fall was seen as encountered by global weakness on back of Crude Oil falling to $28 per barrel on Nymex, Rupee too hurt the sentiments as it fell to 28 months lows against dollar; short recovery was seen in the last hour of intraday finally closing the indices 1.7% down. Nifty future is very near to 7200 mark breaching which can further invite bears to continue. On the higher side, 7350-7410 is seen as resistance range.
TREND: SIDEWAYS:
SUPPORT : 7230 & 7180
RESISTANCE: 7360 & 7410
MARKET GOSSIPS:
• Markets tumble on weak European cues; Reliance, ICICI shares tanks.
• UltraTech Q3 net up 39 pct supported by strong operational performance & lower finance cost.
• L&T recovers from day’s low as JV secured Rs 3115 crore order.
• Tata Elxsi Q3 net profit stood at Rs. 39.9 crore; sales jump 24 percent.
• Rallis hits fresh low on the back of weak Q3 numbers.
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