DSIJ Mindshare

The second largest car and truck maker by market capitalisation, Mahindra & Mahindra has unveiled Furio, a new range of intermediate commercial vehicles. The stock of M&M on Tuesday opened with a gap up at 915 levels and surged to as much as 924, its new high, registering 1.8 per cent increase from previous gains.

In Monday’s session, if Nifty continues to trend northwards tracking Friday’s optimism, then we hold 11030-11080 as the major resistances, followed by 11120. However, if Nifty retreats from here, we hold 10980-10925 as the major support area followed by 10880 level.

Indian stock markets are likely to open on a flat to negative note tracking weak global cues and negative start from the Asian peers. The trading of Nifty 50 index future on the Singapore stock exchange is trailing flat indicates that Nifty could open flat at the opening bell. 

Auto Tyres and rubber tubes company, Ceat surged as much as 9.5 per cent in Friday’s trade on reporting Q1FY19 results. On Friday, the stock bounced back very sharply, breaching its two prior resistances at 1327 followed by 1351, supported by spurt in volumes and 14-period RSI crossing 55 levels.

Jubilant Foodworks, a master franchise of Domino’s Pizza and Dunkin Donuts brands, surged nearly 5.5 per cent on Friday at 12:00 hours, hitting a significant new all-time high. The stock of Jubilant surged with expectation of posting positive topline and bottomline in its Q1FY19 earnings report.