Index Trends And Stocks In Action July 08, 2015

The Indian Market snapped its winning streak as the market ended with marginal losses. However, buying was witnessed in stocks from Realty, Consumer durables and Healthcare index. The end of the day action has formed a potential Spinning top candlestick pattern; this suggests neither buyers nor the seller had an upper hand at the end of the session. Now going forward important support for the index is placed around levels of 8480 and next major support is around 8430. On the upside the level of 8565 will act as a stiff resistance for the index. If sustains above this level expect up move up to levels of 8620.

Titagarh Wagons: Titagarh Wagons has received an Industrial License under the Industries (Development and Regulation) Act, 1951 from Ministry of Commerce & Industry, Department Policy and Promotion, Govt. of India, New Delhi for manufacture of various items for defence and plans to take all steps for the purpose expeditiously subject to such other formalities/compliance as may be applicable in this respect.

United Spirits: The Diageo-owned United Spirits (USL) has sold its stake in United Breweries to Heineken, giving the Dutch brewer an upper hand in managing the affairs of India’s largest beer producer.

Procter & Gamble Hygiene & Health Care: HDFC Mutual Fund has reduced its stake in FMCG firm Procter & Gamble Hygiene & Health Care by 2.01% by selling 6.52 lakh shares for Rs 429 crore in the open market.

Deepak Fertilisers: The Delhi high court ordered the government to resume supply of gas to Deepak Fertilisers and Petrochemicals Corp. plant in Maharashtra that was stopped in May 2014.