Index Trends And Stocks In Action July 15, 2015

After moving northward on Monday, the Indian Equity indices took a breather on Tuesday. Stock that had business interests in Iran, where in limelight as Iran nuclear deal fueled the sentiment. The broader market continued to shine ended with marginal gains. On the daily chart of the index we observe a formation of small body candle with lower shadow, which hints a breather type pattern after a strong rally. Nifty is unable to breach its major short-term hurdle of 8530-8565 on closing basis. As long as nifty stays below this resistance zone, it will trade in narrow range with negative bias. If it sustains above the resistance zone, expect a fresh short-term break out and this could lift bulls up to levels of 8700 and 8840 in the medium term. On the downside the level of 8420 is important support for the index. 

Ashok Leyland: Hinduja Group flagship company Ashok Leyland said the sales of its small commercial vehicle DOST, the first product to be launched under the joint venture with Nissan Motor Company, had crossed the one lakh mark.

India Cements: Indian Cements owner of Chennai Super Kings is planning to move to the Supreme Court against the order of the court appointed Lodha committee suspending the team from Indian Premier League for two years.

Kopran: Pharma firm Kopran said it has received Board’s approval for sale of Consumer care unit, which manufactures and sells oral care and lifestyle products. Its consumer care division manufactures deodorant, deo talc, face wash, moisturiser and tooth paste.

Sun Tv: An inter-ministerial panel is learnt to have rejected the Sun Group’s application to participate in the next-stage FM radio auctions, indicating that the licence renewal request of the Chennai-based network’s 33 TV channels-hanging fire after home ministry denied them security clearance-could suffer the same fate.