DSIJ Mindshare

The stochastic oscillator is in an extreme overbought zone, which suggests the index may witness some consolidation before it makes any major upward move.

Leading pharma company Laurus Lab received two USFDA approvals, the company informed post market hours on Monday. The products will be manufactured at the company's plant in Visakhapatnam. 

Going ahead, we expect a follow-up move to happen. However, on the upside, the level of 11,260 is likely to act a resistance, while on the downside, the level of 11,120 is likely to act as an immediate support. Stocks in news: KEI Industries, Godfrey Philips India, Piramal Enterprises, Kalpataru Power Transmission, Jet Airways, Laurus Labs and PSP Projects.

The outlook for the day is a gap-up start as cues from the across the global are encouraging. However, a very important dilemma in the minds of the the investors would be whether ‘to board a running train or alight from it'. For the current momentum to sustain, a close above 11,260 level is crucial for the Nifty. At the time of writing, the SGX Nifty indicates that Nifty may open with a gain of about half a per cent at 11,264.

The stocks that are likely to witness significant movement on the bourses on March 12 are, Laurus Labs, NBCC, CES, Sundaram Clayton and Symphony