Morning Market View:

Nifty is perfectly consolidating in between the trading range ahead of the monthly F&O expiry due tomorrow. The recent developments in the US on the tariff issues will keep the markets on their toes while the underlying strength in the index is neutral. The support for the week is around 25400 on the lower side while 25850-25900 is the major hurdle for the short-term traders. Banking Index is now showing first signs of the base formation again and some more drift lower towards 61000 expected where good support is placed. Short term traders should keep 60600 (spot) as stop loss for all the long contracts and may hold long positions till it is not breaching the support zones for the day. Among the sectors –FMCG, CHEMICALS are looking good for the day while ENERGY stocks may remain buy on dips candidates. On the flip side, IT stocks may again witness sell off at the initial trade. Buzzing Stocks on the Street today:

The Board has approved a group reorganisation plan through a composite scheme of arrangement (Impact: Neutral to Positive)* - reported unauthorized and fraudulent activities linked to Haryana government accounts worth Rs 590 crore at a branch in Chandigarh. (Impact: Negative) RAILTEL - in consortium with Ashoka Buildcon, has received the Letter of Intent (LoI) from the Inspector General of Registration (IGR). (Impact: Positive) - USFDA) has classified the current Good Manufacturing Practices (cGMP) inspection at the Rodopi (Impact: Neutral to Positive)