BSE Sensex and Nifty 50 were set to open in green on Tuesday, as SGX Nifty gained further. Nifty futures were trading 41.5 points or 0.23 per cent up at 17897 on Singaporean Exchange. Chartists say that the Nifty 50 index has formed a double top formation which indicates temporary weakness. However, the short-term trend is still positive. “For day traders, the 17900 level could be the immediate hurdle, and below the same the correction wave could continue up to 17750-17710 levels. On the flip side, if the Nifty moves above 17900, the uptrend continuation formation is likely to continue up to 17950-18000 levels,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

Stocks to watch

BPCL: Bharat Petroleum has drawn up plans to invest over Rs 1 lakh crore in the next five years, as the country’s second-largest fuel retailer shifts focus towards petrochemicals, renewables, electric mobility and other alternative fuels.

Vodafone Idea: The promoters of Vodafone Idea – Vodafone Plc and the Aditya Birla Group – have assured the government that they would put equity capital into the company, officials in the Department of Telecommunications (DoT) told FE. The officials said the company executives have conveyed they intend to invest around Rs 10,000 crore in the company.

RBL Bank: The Reserve Bank on Monday imposed a penalty of Rs 2 crore on private lender RBL Bank for deficiencies in regulatory compliances and non-compliance of the provisions of the Banking Regulation Act.

Finolex Cables: Even as proxy advisory firms have flagged corporate governance issues at Finolex Cables and also advised shareholders to vote out three directors at the annual general meeting slated for Tuesday, the company publicly accused Prakash Chhabria, the cousin of Deepak Kisandas Chhabria, of instigating shareholders and creating the controversy.

ZEEL: Sebi on Monday confirmed its earlier directive passed against five persons wherein they were barred from the securities market for indulging in insider trading in the scrip of Zee Entertainment Enterprises Ltd.