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The outlook is a positive start. The indices will look at recouping some of the losses suffered in recent days. While technically, the charts suggest bearish pattern, the global cues could turn the trend temporarily. JustDial and UPL showing short build up and a breakdown on charts.
"Volatility is likely to continue in the near term and that is evident from the VIX jumping over the past two days. Nifty could face stiff resistance near 8,600-8,650 zone while immediate support rests at levels of 8400," said analysts at IIFL in a morning note.
Here are a few stocks to watch out for in trade today
Sun Pharma: As part of its strategy to exit India, Japanese pharmaceuticals company Daiichi Sankyo will sell its 8.9% in Sun Pharmaceuticals, worth Rs 22,610 crore, in block deals in the stock market on Tuesday.
PFC: The state-owned Power Finance Corporation (PFC) plans to raise up to Rs 60,000 crore through short- and long-term borrowings in the current financial year to primarily meet the funding requirements of power sector units and projects.
Hindustan Zinc: Hindustan Zinc (HZL) posted better-than-expected performance for the quarter ending March, largely driven by a surge in volumes. Mined metal production at 269,000 tonnes was better than the previous quarter’s 200,000 tonnes and the year-ago period’s 242,000 tonnes.
Symphony: The company is likely to be in focus on plans to consider an international acquisition, reports suggest.
MEP Infrastructure: The IPO opens for sale today and closes on April 23.
Lanco Infratech: The infra company completes Udupi plant sale to Adani Power. The stock could react to the development.
TV Today: According to reports, the company has filed urgent plea in court for FM radio business sale
FMCG stocks are likely to see bargain hunting after the battering received in the ooprevious session. The FMCG index had lost around three per cent on Monday, with Marico and Britannia Industries closing a little over six per cent lower. Dabur India, Jubilant FoodWorks, Hindustan Unilever, ITC, Colgate-Palmolive (India) and United Breweries had lost two to five per cent as against the Nifty's losses of 1.8% or 158 points.
In important earnings today, IT majors, HCL Tech and Wipro are set to announce their numbers during the day.
