Morning Market View:

Nifty is currently trading in a volatile consolidation phase with a mildly cautious bias, as the index has recently slipped below key moving averages and sentiment remains fragile due to sectoral weakness, especially in IT. Technically, the zone around 24350–24400 is acting as immediate support, while 24800–24850 remains a strong resistance band where call writing is visible. The global markets are weak tracking the development in the middle east followed by huge jump in the crude oil prices. The sentiment on the street will remain extremely cautious till it is trading below yesterday’s low on the charts. Among the sectors –Capital markets and ENERGY are looking good for the day to buy on declines while on the flip side, realty stocks may again witness sell off at the initial trade. Buzzing Stocks on the Street today: AMBER HDFC Mutual Fund has acquired 2.41 lakh shares*(Impact: Neutral to Positive)*

- has entered into a Memorandum of Understanding (MoU) with NTPC to jointly explore opportunities in coal and lignite gasification and downstream utilisation. (Impact: Positive) - company has entered into a Memorandum of Understanding (MoU) with Kalyani Strategic Systems (Impact: Positive) - company has received the Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for its formulations manufacturing facility in Srikakulam, Andhra Pradesh. (Impact: Neutral to Positive) DCXSYSTEMS: company has received a purchase order worth Rs 68.05 crore from Hindustan Aeronautics (Impact: Positive)