Index Trend and Stocks in action October 15, 2015

Indian Markets opened with a negative bias on the back of weak earnings reported by IT major TCS, however, as the day progresses the indices made an attempt to erase losses, but failed as sentiments further dampened after FMCG giant HUL reported decline in its net profit. However, the Nifty index managed to hold its important psychological level of 8100 and closed at 8108. On the daily chart the index has formed a potential rickshaw man doji candlestick pattern. Now going forward important support for index stands at levels of 8065 and a decisive breach of this support will see the bears to the lime light. On the upside the level of 8150 is the first hurdle for the index and major hurdle is around 8200-8250 levels. The trend is still sideways as the market is moving in a range of 8080-8245 levels. As long as the index moves within this range, the course of the market could be subdued for short term and anymove beyond this range could have a piercing impact on the trend.

Mahindra and Mahindra: Mahindra and Mahindra is planning to launch five more vehicles in the automotive segment in the current financial year, as it expects industry sales to pick up during October-December. The country’s largest utility vehicles maker is also looking to grow its presence in the five-16 tn category truck segment. 

Tata Motors: Jaguar land rover said that its second-quarter results will be affected by a blast at the Chinese port of Tianjin in month of August which ruined or dented about 5,800 vehicles the company had at the site.

Amtek Auto: Foreign Institutional investors (FIIs) as well as domestic institutional investors (DIIs) have sold heavily in debt-laden Amtek Auto in the quarter ended September; the stake of FIIs is at 13.17 per cent currently down from 18.83 per cent earlier. On other hand DIIs stake has slipped to 7.75 per cent from their earlier holding of 16.47 per cent.