Index Trends And Stocks In Action March 25, 2015

Indian benchmark indices ended lower for fifth consecutive trading session on Tuesday. Indices had a flat opening with positive bias and market was gaining momentum as the day progressed, however in last hour trade profit booking in Auto, Banking and Realty stocks dragged index lower. The end of the day chart formed Gravestone Doji candlestick pattern. From past three days index is hovering around 100-day EMA support. Now going forward it’s important to hold on to support level of 8480-8490. If index breaches this support level expect correction up to levels of 8280 in short term. On upside resistance 8650 will act as a stiff resistance.

Five aircraft-leasing entities based in Ireland, which has leased out airplanes to Spicejet (BSE Code: 500285), have terminated their agreements and have gone to court to recover dues that they claimed totaled Rs 100 Crore.

Cairn Plc has sought compensation from the government of India for the sharp drop in the value of its shares in Vendanta-Controlled Cairn India (BSE Code: 532792), which it is not allowed to sell unit it settles the controversial retrospective tax demand of USD1.60 billion or Rs 10,200 crore.

Non-Banking Financial (NBFC) Capital First (BSE Code: 532938) announced that it has raised Rs 300 crore through its first qualified institutional placement (QIP). The funds will be deployed for expansion of existing business.

Godrej Properties (BSE Code: 533150) adds a large new residential project in Kolkata to its portfolio and also announces township project In Pune spread across 43 Acres.