Index Trends And Stocks In Action September 04, 2015

The Indian market snapped its three day losing streak on the back of positive cues from global market. Technically, the index opened with a gap up and started to move up soon after the opening. However, a dip was seen in the afternoon session and this dip was used by traders to initiative long position. On the daily chart the index has formed a perfect Bullish Harami candlestick pattern, this act as reversal candlestick after a sharp decline. However, confirmation is required on the next day for the validation of pattern. Now going forward the level of 7865 is a hurdle for the index on the upside. On the downside important support for the index is around 7740.

Ashok Leyland: RBI has allowed foreign investors to invest up to 40 per cent of the paid up capital in Ashok Leyland.

Raymond: Suiting fabric producer Raymond said it plans to invest $5 million to launch its products in the West Asian and African markets through its subsidiaries

Cipla: India's third-largest drug maker Cipla is buying the American business of Hyderabad-based Hetero Drugs as it seeks to expand its fledgling presence in the world's biggest pharma market.