Index Trends And Stocks In Action March 12, 2015

Indian benchmark indices moved in tight band for the most part of the day and ended with minor losses. The broader market too ended with marginal losses. On the end of day chart index has formed a small inside candle with average volumes at the important support level of 8670 as defined by 50-day EMA. Still the short-term trend remains in favor of bear’s. Now going forward the important support stands at 8670, if this support is taken out next important support stands at 8610. On upside resistance stands at 8750-8780.

The Burman Family Office, the investment arm of the Burman family, promoters of fast-moving consumer group conglomerate Dabur India (BSE Code: 500096), is in the final stages of negotiations to invest an undisclosed amount in online insurance policy aggregator EasyPolicy.com.

The oil ministry has asked state-run Bharat Petroleum Corporation (BSE Code: 500547) to cancel allotment of a petrol pump to a dealer in a posh Delhi locality after it found irregularities in the allotment process, as per media reports. 

Bharti Airtel (BSE Code: 532454) is said to be in preliminary discussions with Tata Teleservices on joining forces in a front that would be better equipped to counter possible closer integration between the telecom businesses of brothers Mukesh and Anil Ambani, according media reports.