Index Trend And Stocks In Action January 06, 2016

The Indian markets continued their decline for the second day in a row, though the broader markets outperformed the benchmark indices. The nifty index has a major support placed at lower levels at the  7700-7720 area which is defined by lows registered as on 16th November, 2015 and 61.8 per cent Fibonacci retracement level of the previous up-move from lower levels of 7751 to 7973. On the upside the levels of 7850 will act as a strong resistance for the index. The 14-day RSI is quoting at 45 and has turned down from the higher range of around 59. It was not able to cross the level of 60.

Spice Jet: Low cost airline SpiceJet in a statement said it will add 10 new daily frequencies on its domestic network on some popular routes like Chennai-Kochi, Bangalore-Vijayawada and Hyderabad-Vijayawada among others. 

Godfrey Phillips India: The Global tobacco giant Philip Morris International has initiated talks with its Indian partner, KK Modi-led Godfrey Phillips India in an attempt to take control of the cigarette brands.

Apollo Hospital: The investigations wing of the Income-Tax Department conducted searches on the properties of the Apollo Hospitals group in different parts of the country.

Narayana Hrudayalaya: Healthcare services firm Narayana Hrudayalaya will list its shares on the stock exchanges on January 6th. The equity shares will be listed on the National Stock Exchange (NSE) as well as on the BSE.

Tech Mahindra: Tech Mahindra is working on further boosting its integrated engineering unit with partnerships, investing internally and potentially getting into more acquisitions as it looks at capitalizing on the opportunities in the automotive space.