Index Trends And Stocks In Action December 19, 2014

The Indian markets ended its losing streak on the back of positive global cues. The Sensex regained its 27000 mark while the Nifty scaled above 8150 mark. On daily chart nifty index has formed a hammer candlestick pattern with good volumes; however this pattern is reliable only if it’s formed after a correction and hence pattern wise it doesn’t have much impact. However the reversal candlestick which was formed on 17^th December, 2014 has provided some sustainability and pushed the index up. The low of reversal candlestick which is around 7961 will act as important support in short term. For day trading 8110 and 8080 will act as important support. On upside 8190 and 8230 will act as a resistance level.

Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100% of the paid up capital of Crompton Greaves (BSE Code: 500093) under the Portfolio Investment Scheme (PIS). FIIs held 15.93 percent shares in the company as of quarter ended 30 September, 2014.

Monte Carlo Fashions is going to list its equity shares on the Bombay Stock Exchange and National Stock Exchange (Capital Market segment) on today (December 19, 2014).

ONGC (BSE Code: 500312) on Thursday received a major relief from the Gujarat high court (HC) which exempted it from paying value added tax (VAT) of Rs 1,000 crore to the state government.