Market Watch: Stocks to watch in trade on Tuesday

Maruti Suzuki India, Reliance Communications and Ramco Systems are likely to react to newsflow

Here are a few stocks that are likely to be in focus today:

Maruti Suzuki India plans to invest Rs 4,000 crore this fiscal on capital expenditure in order to enhance its leadership position in the market.

Shree Cement is likely to be in focus after completing the acquisition of a cement-grinding unit of Jaiprakash Associates for Rs 358 crore.

Reliance Communications is set to see action on reports that it has raised $300 million in its first international bond issue on Monday. According to reports, the company is also planning to offer 4G services, starting in Gujarat.

Ramco Systems could see action on reports that it has bagged an order from the North America-based Hutchinson Aerospace and Industry Inc to implement its maintenance, repair and over haul (MRO) solutions and services.

National Aluminium Company Limited has declared an interim dividend of 25%, or Rs 1.25 a share of Rs.5 each, amounting to Rs 322.16 crore for the financial year 2014-15, on the paid-up equity share capital of Rs.1288.62 crore.

Alembic Pharmaceuticals is set to react to its numbers in trade today. The Vadodara-based drug company Alembic Pharmaceuticals reported a 14.74% increase in net profit at Rs 70.33 crore for the quarter ended March 31, 2015.

Granules India is also likely to react to its numbers. The company's consolidated net profit declined at Rs. 22.39 crore in the fourth quarter ended March 31, 2015, compared to Rs. 23.62 crore in the year-ago period.

Telecom majors Bharti Airtel and Idea will report their numbers post market hours today.

MARKET COMMENTARY

The outlook is a flat to negative start led by global cues. In the US, stocks closed lower, unable to sustain Friday's record gains as investors eyed earnings and looked ahead to the two-day Federal Reserve meeting starting later today for indications regarding a possible rate hike.

Back home, the benchmark indices had seen some sharp cuts on Monday, with the Sensex and Nifty closing below their 200-day moving average (DMA) for the first time in nearly 18 months following a sharp correction over the past two months.The Sensex had closed down 260 points at 27,176 and the Nifty had ended at 8,213, down 91 points.

TECHNICAL VIEW

According to analysts, Nifty is fast approaching its trendline support, which is placed at around 8,100 - 8,150 levels.

"Going ahead, we expect the Nifty to give a pull back rally from the mentioned support zone and hence traders should not create fresh short positions at current levels. Traders can initiate long positions at the mentioned support zone for a minor pull back rally. On the flipside, the immediate resistance zone for Nifty is seen around 8,300-8,350 levels," points out a morning note from Angel Broking.