Index Trend and Stocks in action October 29, 2015

The Indian benchmark indices extended their southward journey for the third day in a row, on the back of sustained selling by funds and retail investors ahead of expiry of October series. On the daily chart the index has formed a small body candlestick with higher and lower wick, this indicates high volatility. Now going forward major support for the index is placed around the level of 8065 and if this support is breached it would open gate for the level of 7800 and lower, in the short term. On the upside the zone of 8240 and 8340 will act as a stiff resistance for the index. Today being expiry for the October series, considering this we expect high volatility in the market.

Jet Airways: Jet Airways, India's second biggest carrier reported 25% growth in net profit to Rs 87.59 crore in the three months ended 30 September from Rs 69.82 crore in the year earlier. Net sales rose by 10.2% to Rs 5,257.97 crore from Rs 4,772.25 crore a year ago.

JK Tyre & Industries:  JK Tyre & Industries on Wednesday posted a 54.7% rise in consolidated net profit at Rs 118.27 crore for the fiscal second quarter that ended on September 30, 2015. Net sales of the company, however, declined to Rs 1,790.91 crore compared with Rs 1,858.68 crore a year ago, it said in a statement.