Index Trend And Stocks In Action December 18, 2015

The Indian markets continued their remarkable run as it surged higher for the fourth successive trading session. A hectic buying activity which took place during the last hour of trade mainly drove the market higher. On the daily chart the index has filled the gap which was created on 4^th December, 2015. The index has also managed to move above its 61.8 per cent retracement level of the previous fall from the swing high of 7979 to 7551. Now next level to watch out on the high side is 7888 which also 78.6 per cent retracement of the previous fall from the swing high. If the index manage to sustain above this level its likely to test levels of 7930-50. On the downside level of 7810 will act as strong support and next support is placed around levels of 7750. The daily 14-day RSI is quoting around 52 which happen to be the higher end of the range.

Jyoti: Jyoti has won the prestigious order worth of Rs 139 crore from DRN Infrastructure, Hubli, Karnataka for design, manufacturing, supply, erection, testing and commissioning of 5 Nos.

JMC Projects (India): JMC Projects (India) has bagged construction projects worth over Rs 1,050 crore. The first order is for five building projects in Bangalore worth approximately Rs 794 crore. The company has also bagged a building project in Hyderabad worth approximately Rs 110 crore and a flyover project in Bhiwandi from MMRDA worth approximately Rs 150 crore.

Somany Ceramics: Somany Ceramics announced that the Company Administrative Committee ("Committee") of the Company on 17 December 2015 has passed the following resolutions with regards to Qualified Institutional Placement of equity shares of Rs 2 each for an aggregate amount not exceeding Rs 150 crore with the floor price for the issue i.e. Rs. 357.24.