Index Trend and Stocks in action October 19, 2015

After trading subdued for the most part of the day, the Indian Benchmark indices rebound from lower levels in late afternoon trading session and reclaiming its important psychological level of 8200. Now going forward market has strong resistance in the band of 8250-8280, this resistance must be taken out for signalling strength and fresh momentum. If the index manages to sustain above this level expect a rally up to levels of 8350 and 8400. On the downside strong support for the index is placed around 8180 and the next important support is around 8100 levels.

Reliance Industries: RIL quarterly net profit rose 12.5% to a record USD 1 billion, or Rs 6,700 crore beating street expectations. GRMs for each barrel of crude processed soared to a seven-year high of USD 10.6.

Crompton Greaves: The Company said its board has approved entering into a definitive agreement for sale of a portion of its land parcel at Kanjurmarg, Mumbai, to Evie Real Estate for an aggregate sum of Rs 496.48 crore.

NBCC: State run NBCC has bagged Rs 126.33 crore projects in Telangana for carrying out civil works at different colleges of Acharya NG RangaArgicultural University in the state.

HCL Technologies: The stock is likely to be in limelight as its will announce its quarterly results today, however, the company has already warned that it will see tepid revenue growth in July-September on the back of fluctuating currencies.

M&M: Auto major Mahindra and Mahindra rolled out two new products- the Supro Van in the passenger van segment while the SuproMaxitruck in load carrier category.

Kaveri Seed: Monsanto India's joint venture firm - MMB - has moved court against eight domestic seed companies for refusing to pay over Rs 400-crore 'trait fee'. Prabhat Agri Biotech, Ajeet Seeds, Kaveri Seed, Ankur Seeds, Nuziveedu Seeds, Green Gold Seeds, Ram Agrigenetics and Amar Bio Tech - have refused to pay the dues, citing the state governments' price control order on cotton seeds.