Index Trends And Stocks In Action December 22, 2014

The Indian market continues its winning streak for second trading session in a row. The Nifty index reclaimed its important psychology mark of 8200 led by gains in banking, Energy and IT stocks. On daily chart nifty has formed higher top higher bottom pattern from past three trading session. The End of the day candlestick pattern is a potential doji, if in coming trading session level of 8200 is defended by the bulls its likely we see a continuation of uptrend in index. On upside it’s likely to face resistance around 8280 and 8350. If bear’s manage to penetrate level of 8200, than index will open up for correction up to levels of 8120-8065. We expect this week to be a volatile one for Indian equity market on account of F&O expiry which is due on Wednesday.

Lloyd Electric & Engineering (BSE Code: 517518) will remain in focus on the bourses as its board of directors will meet on Monday to consider raising funds through a qualified institutional placement. The other means of fund-raising plans include issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares. The company posted a profit Rs 4.39 crore for the September quarter.

Autoline Industries (BSE Code: 532797) will meet on Monday to consider and note the status of transaction related to the stake sale in its US-based wholly owned subsidiary. The Pune-based auto parts manufacturer plans to dispose of assets and divest stocks in Autoline Industries Inc for USD 8.5 million, an earlier disclosure to the exchanges had revealed. Investors will keenly watch the developments, particularly for any change in the price or structure of the deal.

The Securities Appellate Tribunal adjourned the hearing of the DLF (BSE Code: 532868) versus SEBI case to December 22. The case relates to SEBI barring DLF and six of its directors from trading in the securities market for three years after finding them guilty of suppressing material information relating to legal cases in their IPO offer document. DLF had appealed to SAT against this order.