DSIJ Mindshare

NIIT Tech announced that funds affiliated with Baring Private Equity Asia (BPEA) have signed definitive agreements to purchase 30 per cent shareholding of NIIT Tech from NIIT and other promoter entities, leading to an open offer at a price of Rs. 1,394 per share.

Ambuja Cement forms Homing Pigeon candlestick pattern on daily time frame. Homing pigeon closely resembles the harami or inside day pattern, except the both bodies are red rather than opposite in colour.

The 8-day moving average, which is placed around 11616, is likely to act as an immediate support, while the major support is placed around 11,559, which is the low of last week. On the upside, 11,760 is likely to act as a resistance level and sustaining above this level decisively would lead to further acceleration of upward momentum. Stock in news: NIIT Technologies, Eris Lifesciences, Lumax Auto Technologies, Torrent Pharma, Colgate Palmolive (India), Tata Steel, Cadila Healthcare, Infosys.

Indian equity benchmark indices are likely to open the new week on a flat note with a positive bias. The market participants will monitor the earning season which starts this week and that will be a key trigger for the markets. Also, the big event of the general election starts this week with the first round of polling on April 11. At the time of writing, SGX Nifty was trading around 11,776 level, up by 3 points.

The stocks that are likely to witness significant movement on the bourses on April 8 are, CMI Ltd, Syngene, Precision Camshafts, Indiabulls Housing Finance, Lakshmi Vilas Bank and Ahluwalia Contracts