Index Trends And Stocks In Action January 07, 2015

The Indian market suffered its most awful set back in over 15 months, as traders and investor indulged in serious selling across the board, following sell-off in global market. Declining crude oil prices, uncertainties about the political situation in Greece and forecast of a likely exit of Greece from Euro added to misery. Technically, Nifty index formed negative candlestick pattern around swing high if 8445 levels as on 05^th December, 2015 it followed this by a big bearish candlestick along with downside gap. This may well be a revelation of bear’s involvement in the market. Going forward first important support for index is around levels of 8060-8085 as 100-day EMA is placed around 8085 and 8065 is important trend line support for index. If index manages to hold this important support levels expect a pullback rally up to levels of 8180. If breaks this support range of 8060-8085, expect a correction up to levels of 7970-7920.

Aurobindo Pharma (BSE Code: 524804) has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Valsartan Tablets USP, 40mg, 80mg, 160mg and 320mg (ANDA 202223). The product is ready for launch. The product falls under the therapeutic category of CVS (Cardio Vascular) has a market size of approximately USD 2 Billion for the twelve months ending October 2014 according to IMS.

Lupin’s (BSE Code: 500257) US subsidiary, Lupin Pharmaceuticals has launched its Valsartan tablets USP, 40 mg, 80 mg, 160 mg and 320 mg, the generic for Novartis Pharmaceuticals Corporation’s (Novartis) Diovan tablets 40 mg, 80 mg, 160 mg and 320 mg strengths and has received final approval from the United States Food and Drug Administration (US FDA). Diovan tablets had annual US sales of USD 2.08 billion.