Index Trends And Stocks In Action August 11, 2015

Indian Benchmark Indices started on a positive note and surged higher soon after opening. However the up-move was halted in the second half as quick sell-off was seen after reports suggested the GST bill was unlikely to pass during an ongoing monsoon session of parliament. The index breached its important support level of 8550 and closed below this level. Now going forward major support for the index stands at level of 8480 and as long as the index trades above this level expect a pullback rally up to level of 8565-8610. On the upside major resistance for the index is around level of 8650-8665.

Nestle: The United States FDA Cleared Nestles two-minute Maggi noodles samples, the seventh country to do so, even as national food regulator Food Safety & Standards Authority of India (FSSAI) has refused to give a clean chit to the noodles brand.

Biocon: Biotechnology major Biocon’s research arm Syngene International, will make its debut on the exchange today at 10:00 AM.

Polaris Consulting and Services: A Clutch of global and Indian Technology companies is in race to buy a controlling stake in Polaris. Investment Bank Credit Suisse has been roped in as an advisor.