Index Trends And Stocks In Action April 27, 2015

The Indian equity markets continue to face the heat as there were reports that IT authorities issued notices to several FIIs pertaining to their MAT liabilities for prior years.  On daily chart nifty has formed a bearish candlestick along with heavy volumes; this suggests that bear’s are likely to dominate the market. Currently the index is placed a very critical level, i.e. near its 200-day SMA around 8270. Once index breaches and sustains below this level, then it could see a fresh wave of selling and this could lead market to levels of 7970-7920 in the short term.  On the upside 8520-8500 would act as a stiff resistance for the bulls. Only if bulls manage to sustain above levels of 8500-8520 we could witness a trend reversal in favor of the bulls.

Maruti Suzuki (BSE code: 532500) is expected to announce its March 2015 quarter and FY2015 annual result today.

Mahindra Finance (BSE code: 532174) is likely to hold up to 50 per cent stake in the proposed Payment Bank, for which a group entity has applied for a licence from RBI. 

The mortgage giant HDFC (BSE code: 532720) has seen overseas investors raise their stake in it to a record high of nearly 80 percent during the quarter ended March 2015.