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Market update for 21st March

Market has opened on a positive tone and the trend for market will be sideways. The support for nifty is around 9106 and breaching this level may extend the correction of another 50-60 points. The resistance is around 9170-9200.There are lots of action happening around in stocks at present juncture so traders should have stock centric approach rather to trade index.
Some stocks which are in focus today:
Divi’s lab:US FDA issues import alert for Vishakhapatnam unit-2

HCL Technologies: IT major, HCL Technologies, said its board has approved a buyback of shares worth Rs 3,500 crore.  

Engineers India: The company said its board has approved a buyback of over four crore equity shares worth Rs 658.80 crore.

Oil India: The government-run company will buyback 5.6 percent of the company's shares worth Rs 1,527 crore.

IL&FS Engineering and Construction: The company secured a Rs 222.7 crore project for rural electrification in Ranchi. The project is covered under the Deen Dayal Upadhyaya Gram Jyoti Yojana run by Rural Electrification Corporation.


Idea: CLSA has maintained sell call on idea for target price of 90.Further downside is expected in stock today.

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