We expect the buying interest to emerge around the 12,045-12,120 levels as it is a crucial support level for the index in the near term. On the higher side, the level of 12,230-12,250 is likely to act as a resistance area. Stocks in news: Biocon, Glenmark Pharmaceuticals, Bharti Airtel, PEL, ZF Steering Gear India, Vodafone Idea.

The outlook for the day is a flat to positive start as SGX Nifty trade with gains of 30 points at 12,221 levels. However, it would be interesting to see whether or not markets hold its initial gains or traders will use pullback rally to take profit off table and initiate short positions.

The following stocks will be in focus during Wednesday’s trading session in the light of their result announcements: Asian Paints, Axis Bank, Raymond, Larsen & Toubro and SBI Life Insurance Company.

Dish TV and Airtel Digital TV have stalled their merger over differences of the company’s structure, according to reports. However, Bharti Airtel’s Direct-to-Home (DTH) arm-Airtel Digital TV continues to offer its shares, post local reports on a possible merger last year.

BSE Sensex ended at 41,323.81, down by 205.10 points or 0.49 per cent after trading in a range of 41,301.63 and 41,532.59. There were 9 stocks advancing against 21 stocks declining on the index.

The stock of Prestige Estate Projects Limited has formed a dark cloud cover candlestick pattern on daily scale. The dark cloud cover is a bearish reversal candlestick pattern, which usually occurs when a bearish candle on day 2 closes below the middle of day 1’s candle.

Axis mutual fund has announced the launch of its newly open-ended equity scheme- Axis ESG Equity Fund. Read on to find details.

Spencer’s Retail, a chain of retail stores headquartered in Kolkata (West Bengal) jumped more than 19 per cent on Tuesday after the company informed that veteran Mumbai businessman and founder of Avenue Supermarts Ltd, Radhakishan Damani picked up over 2 per cent stake in the company during December quarter.

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