Morning Market Views:

Nifty have shown volatile moves in the intraday trade in the last session taking support around the good support zones of 24200 levels on the lower side. The momentum was well supported by stock specific action as well. The overall trend of the index is Buy on dips for the near term till the index is holding above 24150 on closing basis while 24450-24500 remains strong hurdle for the near term. Bank Nifty is also in the strong bullish mode with strong support for the index placed around 55500-55600 on the lower side. The overall trend of the index is good with high volatility expected today after the recent volatile moves on the daily charts. The sentiment on the street will remain bullish with support for the index placed around 55500 while 56450-56600 remains strong resistance for the day. Stocks In News Punjab & Sind Bank: PSU bank union calls all-India strike on May 8.

: Completes Horizon Hotel acquisition; consortium pays Rs 919.25 crore under resolution plan, acquires ~50% stake in HHPL for Rs 460 crore. : SEBI challenges SAT ruling. PNB Housing Finance: CARE Ratings upgrades credit rating from ‘CARE AA+; Stable' to ‘CARE AAA; Stable'. : Receives RBI approval for demerger with Sammaan Finserve. Pace Digitek: Secures Rs 702 crore order from Damodar Valley Corporation for 250 MW BESS project in Jharkhand; scope includes supply, EPC execution, commissioning and 12-year O&M. IIFL Capital: Receives tax demand of Rs 68 crore from Mumbai authority. Triveni Engineering: NCLT Allahabad approves composite scheme involving company, Sri Shadi Lal and Triveni Power. : Board to consider long-term fund raising of up to $2 billion on May 12.