Index trend and stocks in action February 11, 2016

The Indian market continued its southbound journey for the third straight session on Wednesday. Weak earnings reported by PSU banks and the sell-off in the global markets kept weighing on the sentiments. On the daily chart the index has formed a Bullish AB=CD pattern and PRZ for the same stands at 7144. Now going forward as long as the index stays above the levels of 7144, this bullish reversal pattern would be valid and if the index breaches this important support level of 7144, it’s likely to touch levels of 7050-7000 in the short term. For day trading the level of 7280 will act as a stiff resistance for the bulls. On the downside, immediate support for the index stands around levels of 7170.

Tata Global Beverages: Tata Global Beverage reported a 29.78 per cent decline in consolidated net profit at Rs 59.15 crore in Q3FY16, dragged by currency fluctuations and expenses on promotions in global markets. The company's consolidated net sales during the quarter under review was down 2.80 per cent at Rs 2,050.63 crore as against Rs 2,109.73 crore a year ago.

Blue Dart: Blue Dart reported almost doubling of its net profit to Rs 50.05 crore on a standalone basis for the quarter ended December. The total income from operations increased to Rs 653.01 crore during the quarter as against Rs 588.87 crore in the corresponding quarter of the previous fiscal.

Tata Chemicals: Tata Chemicals reported a 45 per cent decline in consolidated net profit at Rs 129.94 crore for the quarter ended December 31, 2015, on lower sales and a higher finance cost. Income from operations fell nearly 4 per cent to Rs 4,637.35 crore in Q3FY16 from Rs 4,816.86 crore in the previous year.

NHPC: NHPC reported a net profit of Rs 388.02 crore for the quarter ended December 2015, more than double of Rs 179.83 crore in the corresponding quarter, owing to higher income from operations. Net sales stands at Rs 1,440.90 crore against Rs 1,177.04 crore in the corresponding quarter of the previous fiscal.

Alstom T&D India: Alstom T&D India reported standalone net loss of Rs 18.21 crore for the quarter ended December 31, 2015. Total income from operations declined to Rs 755.2 crore in the quarter, over Rs 766 crore in the previous year.