Morning Market Insights:

Indian Markets are expected to consolidate in the today’s trader after the yesterday’s strong move in the broader markets led by the banking stocks. The overall sentiment on the street is cautious with IRAN-US issue gain on fire in the middle east. On the technical front, the index is having support around 23000-22900 below 22850 is the next support zones. On the other hand, 23300-23350 is the major hurdle in the near term. Bank Nifty is looking very strong on the charts with good stocks specific buying was seen in the private sector banking stocks followed by select PSU banking stocks. The overall trend of the index is bullish with good buying expected on any pullbacks in today’s trade. The sentiment on the street will remain good with support for the index placed around 54100-54200 while 55600 remains resistance for the day. Stocks In News

: The Bombay High Court allowed a petition filed by the company, setting aside a massive Rs 8,414 crore demand notice, which included an OTSC demand of Rs 473.7 crore pertaining to its arm, Bharti Hexacom. : Signed a binding Joint Venture term sheet with Gemtek to manufacture optical transceivers and networking gear focusing on the data center and telecom ecosystem. Dixon will hold a 60% stake, while Gemtek will hold 40%. : The name of its subsidiary, Malco Energy, has been officially changed to Vedanta Oil and Gas. Glenmark Pharmaceuticals: Released an investor presentation outlining its goal to become a leading, global, innovation-driven company, specifically targeting a leadership position in respiratory and injectables within the US generics market. Bharti Hexacom: Received significant relief as the Bombay High Court set aside an Rs 473.7 crore spectrum charge demand. Dredging Corp: The board approved the appointment of Jasmeet Singh Bindra as Additional Director and Chairman.