Index Trend And Stocks In Action January 04, 2016

Indian markets started the New Year on a muted note, however, the bulls managed to gather some momentum in the final hours of the session to snap the first trading day of 2016 on an optimistic note. Now going forward, the level of 7980-8000 is a major roadblock for the bulls. If this zone is taken out, further momentum up to levels of 8065 can be seen. On the downside the level of 7880 would act as a strong support for the index and if the index moves below this support, next support stands at level of 7830. The daily 14-day RSI is quoting at 59 and its trading at its upper band, fresh momentum can be expected of if it moves and sustains above level of 60.

Tata Motors: The global auto giant reported 4 per cent decline in sales at 39,973 units for December compared to 41,734 vehicles in December, 2014.

Ashok Leyland: Hinduja Group flagship firm Ashok Leyland reported a 31.4 per cent increase in total sales at 12,209 units in December 2015. The Company had sold 9,290 units in the same month last year. The sales of medium and heavy commercial vehicles jumped 35.33 per cent. Light commercial vehicles sales grew at 17.83 per cent.

TVS Motors: India’s one of the leading two wheeler manufactures, TVS Motors reported a 4 per cent increase in total sales at 2, 02,086 units for December compared to 1, 94,481 in the same month last year.

Maruti Suzuki: Maruti Suzuki management in a release said its domestic sales rose by 13.5 per cent during the month of December to 1, 11,333 units as against 98,109 units in December, 2014.

Hero Motocorp: Two wheeler major Hero Motocorp reported a decline of 5.02 per cent in its sales for the month of December. It reported sales of 4, 99,665 units of two wheeler dispatches in December 2015.

Eicher Motors: Royal Enfield has recorded yet another year of spectacular growth. The Bullet motorcycle maker has registered 50 per cent growth in its total sales at 4.5 lakh units for the calendar year 2015.

Novartis India: Drug firm Novartis India has completed the transaction to sell its animal health business to Elanco India, an affiliate of Eli Lily.