The stock market (BSE) has followed the same volatile pattern once more. It remains strong throughout the week, and analysts have suggested a strong resistance level at 14595.
The support for the Sensex is at 14425, and the resistance to the up move at 14526-14540-14584-14594. On the other hand, the support for the Nifty is at 4236 and resistance to the up move at 4286-4290-4322.
According to Ashwani Gujral the Nifty would trade in a higher place at 4,300, before any major rectification kicks in.

Jai Parabolic Springs Ltd. climbed up by its maximum daily limit of 5 percent to 29.50 rupees as the board okayed its merger deal with Jamna Auto Industries. The company made the declaration in trading hours. The scrip had touched its intraday low of Rs 28 during the day.
Today, about 16,712 shares were traded in the scrip. In the past one quarter, the stock had an average daily volume of 11,212 shares. At its existing price of Rs 29.50, the scrip trades at a PE multiple of 10.13, based on year ended March 2007 EPS of Rs 2.91.

Novartis India was the top gainer from A group shares on BSE today. It soared up 14.42% to Rs 398.30. Titan Industries, GMDC, GMR Infrastructure and RPL are among the other gainers.
In the year ended March 2007, the company’s net profit slumped 17.93% to Rs 88.55 crore as compared to Rs 107.89 crore in March 2006. The total sales mounted 3.10% to Rs 542.24 crore in the year ended March 2007 versus Rs 525.92 crore in its corresponding period, last year. The company announced the FY 2007 results on 11 May 2007.

In early trade, Kajaria Ceramics is quoting at Rs 35.70, up

The BSE Mid-Cap Index has made fresh all-time highs during this intermediate uptrend. It augmented 33.71 points, or 0.53%, to end at 6,417.90. It also hit a record high of 6435.32 during the day.
The components taking the BSE Mid-Cap Index to an upper rank include Entertainment Network, which increased 20% to Rs 506.60, Novartis India gained 14.42% to Rs 398.30, Honeywell Automation boosted 9.81% to Rs 2060, Lakshmi Energy benefited 9.19% and Titan Industries attained 8.78%. But all these stocks have less than 1% weightage each in the BSE Mid-Cap index.
With the second highest weightage of 1.4% in the BSE Mid-Cap index, GE shipping Company cast off 3.45% to Rs 335.90.

In afternoon trade, Suraj Stainless jumped 1.54% to Rs 366.25 after its directors suggested a liberal 2:1 bonus. The company made this declaration during the trading hours.

During the day, the scrip touched an intraday high of Rs 374 and an intraday low of Rs 342.70. There were 2.26 lakh shares for trading on the BSE. During the past one quarter, the scrip has an average daily volume of 18,039. At its existing rate of Rs 366.25, the scrip trades at a PE multiple of 20.80 that is based on its year ended March 2007 EPS of Rs 17.60.