Orbit Corporation has seen a big move in the early trades in Stock Markets. The stock was quoting at Rs 466, up Rs 33.90 on the Nifty. Orbit Corp. has gained almost 8 % from its close on Friday. It has seen an intraday high of Rs 473.40. Markets can expect good upmove from these levels. Due to renewed buying interest in the counter, the trading volumes are also high.
Bears preserved their supremacy over trading action on Friday. Intensification of current bearish sentiment on Monday is likely to append other stocks in their support.
In contrast, upbeat response on Monday is expected to transform the existing sentiment.
Indian stock markets is expected get well on Monday accompanying the upturn in US and European stock markets on Fed Reserve’s resolution to slash the primary credit rate by 50 basis point to 5.75% to support the restitution of orderly situation in financial markets.
Technical analyst, Vishwas Agarwal is anticipating improvement to the amount of 50% of complete declivity in near future.
In morning trades, Bharat Heavy Electricals (BHEL) decline 3.4% to Rs 1,549 on the Nifty. It has touched an intraday high of Rs 1,599.90 and an intraday low of Rs 1,541.
The company signed up MoU for 1000 MW Sudan Project.
It is trading with total volumes of 159,935 shares. Yesterday the share lost 4.99% or Rs 84.30 at Rs 1,603.60.
Anil Manghnani of Modern Shares & Stock Brokers is of the vision that the investors interested in buying Unitech, will buy it between Rs 460 and Rs 439.