Index Trends And Stocks In Action February 16, 2015

The Indian markets advances for fourth successive trading session on back of good quarterly result declared by banking heavyweight SBI, and other index heavyweights like M&M. Technically, the Nifty index after taking support for around fifty days EMA as on 10th February 2015 is continuing its sequence of higher top higher bottom pattern, this pattern is a positive pattern. Now going forward index has strong resistance in zone of 8845-8880, once this zone is clear we can expect a fresh high on index. On downside now important support is around 8730-8680. 

Auto major Mahindra and Mahindra (BSE Code: 500520) has proposed to invest Rs 4000 crore for setting up a large manufacturing facility in Tamil Nadu which would roll out the company's future models. In the first phase, we will set up the test track facility and secondly will be an automotive plant. 

HDFC Bank (BSE Code: 500180) has reported a 20 per cent growth in net profit in December 2014 quarter to Rs 2,794.5 crore. The increase in profit came on the back of a higher other income and net interest income. The profit was higher than Street estimates. Bloomberg had pegged net profit at Rs 2,770 crore.

Sun Pharmaceutical Industries (BSE Code: 524715) reported a 6.92 per cent decline in its consolidated net profit at Rs 1,425.07 crore for the third quarter ended December 31, 2014. The company had posted a net profit of Rs 1,531.09 crore for the corresponding period of the previous fiscal. Net sales of the company declined to Rs 4,279.54 crore for the quarter under consideration, as against Rs 4,286.59 crore during the same period of previous fiscal.