Morning Market View:

Nifty has been in the strong momentum from past few sessions and is looking neutral on the charts with strong support placed around 24000 on the lower side. The immediate resistance for the index is around 24400-24500 on the upper side. The overall trend of the index is Buy on dips for the near term till the index is holding above 23900 on closing basis. Bank Nifty have given good bounce in the recent past above 55500 on the daily charts. The overall trend of the index is good with some volatility expected today after the recent brutal strong up move on the daily charts. The sentiment on the street will remain bullish with support for the index placed around 55000 while 56300 remains resistance for the day. Stocks In News Axis Bank: The bank will consider fundraising through equity and debt on April 25, as per an exchange filing. DCM Shriram: The company's arm enters into a joint venture named PolyTek with Teknor Apex to expand its polymer compounds business. DCB Bank: The bank's board will consider fundraising via debt and QIP on April 24.

: The company clarifies there are no ongoing JV negotiations with Codelco and says media reports have no material impact. : Bandhan Mutual Fund increases its shareholding in the company to 5.0469%, as per an exchange filing. VA Tech Wabag: The company clarifies it has no Rs.600 crore Saudi contract and awaits order award for a Kuwait desalination JV project. Isgec Heavy Engineering: The company signs an MoU with the Nigeria Sugar Council to provide technical support for sugar projects. Gravita India: The company increases its stake in Rashtriya Metal to 99.44% from 98.95%.