Index Trends And Stocks In Action July 14, 2015

The Indian Market shrugged off weak Industrial output data and react positively to news on Eurozone minister’s agreement on Greek Bailout. The broader market had a fairly good outing. On the daily chart the index is forming a higher top higher bottom pattern from lower level of 8196. Now going forward if nifty manages to hold a level of 8300 and manages to close above the recent swing high which was formed around level of 8561, it will be the first indication of emerging of a new trend which will be in favor of the bulls. For the intraday trading key resistance is around the level of 8510 and next resistance around 8560. On the downside 8422 will act as a strong support and next support around levels of 8330.

Jet Airways: Private carrier Jet Airways scaled up its daily seat deployment on the domestic network by 1,000 seats with the addition of new services to provide an enhanced connectivity within the country.

Adani Power: Nearly 7.8 crore pledged shares of Adani Power amounting to 2.65% stake in the company have been released. These shares were pledged by one of the company’s promoters- Ventura Power investments and were encumbered in favour of IDBI Trusteeship services.

Den Netowrks: The foreign investment promotion board (FIPB) cleared 23 FDI proposals including Bandhan Financial Services, Den Networks and Catholic Syrian Bank.

JSW Steel: The Sajjan Jindal led steel maker JSW Steel produced 3.40 million tonnes (MT) of steel in the first quarter, up 10% from 3.10 MT produced in the same quarter last year said in its BSE filing.