Index Trend And Stocks In Action November 23, 2015

The Indian market witnessed a roller coaster ride as a sudden bout of selling in the last hour of trading resulted in flat closing on Friday. At one point of time the Nifty index was sailing above 7900 levels, however, sudden selling in the indices resulted in flat closing. On the daily chart the index has managed to close above its 61.8 per cent retracement level of up-move from the lower levels of 7545 up to 8336.  Now going forward the level of 7930 is a critical resistance and the bulls needs to sustain above this region for any further strength. On the downside the level of 7800 will act as a strong support and if this zone is breached with volumes, this may lead to further correction up to levels of 7700.

Sequent Scientific: Sequent Scientific announced that its subsidiary Alivira Animal Healthcare Ltd will acquire Topkim Premiks San. Ve Tic A.S of Turkey. The acqusition will be made through Provet Veterinary Products, Turkey, a subsidiary of Alicira.

As per BSE announce Adani Ports and Asian Paints will include to BSE Sensex Index where as Vedanta and Hindalco exclude from BSE Sensex Index w.e.f Dec 21, 2015.

Pfizer: As per reuters Pfizer set to buy Allergan for more than USD 150 billion. The deal would involve Pfizer paying with 11.3 of its shares for each Allergan share.