Index Trend and Stocks in action October 12, 2015

After a respite in the previous trading session, the bulls were back on Friday as the Indian benchmark indices continued its northward journey. The Nifty index managed to shut near its key psychological level of 8200. Technically, the nifty index opened with a positive gap on the back of positive global cues and managed to end the session with handsome gains. On the daily chart the index has formed a doji candlestick pattern around its key resistance area this indicates that the momentum on the upside is diminishing. Now going forward key support level for the index is around the level of 8130 and next important support is around level of 8090. On the upside the bulls will face resistance around the level of 8250, if manages to sustain above this level its likely to move up to levels of 8330.

Bank of Baroda: The Central Bureau of Investigation (CBI) on Sunday raided 50 more locations in connection with Bank of Baroda's north Delhi branch's alleged foreign exchange act violation worth over Rs 6,000 crores.

Maruti Suzuki: Shareholders of car maker Maruti Suzuki India have approved a proposal to raise foreign institutional investors (FII) limit in the company to up to 40 per cent from the current 24 per cent.

SpiceJet: Low-cost carrier SpiceJet will induct six new aircraft into its fleet. According to the airline, it will operate 291 daily flights during the winter schedule (starting October 25); up from 250 flights it operates at present on a daily basis.