Index Trend and Stocks in action October 08, 2015

The Indian stock market extended its winning streak to sixth straight session. After a sluggish start, benchmark indices moved in narrow range, however, the indices marked a smart recovery towards the end and ended above important levels of 8150 on the Nifty. On the daily chart the index is hovering around its 100-day EMA resistance and it’s facing strong supply around the levels of 8180-8190. Now going forward if the index manages to cross this hurdle of 8180-8190, it’s likely to scale up to levels of 8230-8280. The levels of 8100-8095 have acted as an important support and are likely to hold on declines. A breach of this level will find it seeking lower supports at 8065 and 7990.

Apollo Hospitals: Apollo Health and Lifestyle, a wholly owned subsidiary of Apollo Hospital Enterprise Ltd, is looking to raise Rs 300-500 crore funding from private equity players for its expansion.

Man Industries: MAN Industries (India) has received orders worth approx. Rs 700 crore from international and domestic customers for supply of pipes for Oil, Gas and Water sector projects.

Reliance Infrastructure: Reliance Infrastructure, part of Anil Ambani led Reliance Group has decided to exit the cement business by putting privately held Reliance Cements up for sale.