Index Trends And Stocks In Action July 28, 2015

It was a bloodbath on the D-street as the Indian Indices ended with losses for the third straight session. The Sensex broke its crucial psychological level of 28000. Selling was seen in banking, Pharmaceuticals and Metal stocks. On the daily chart the index has formed a long range bearish bar with an unfilled opening gap; this is indicated emergence of a new down trend. Now going forward index has a strong support around the level of 8300, if hold this level expects a pullback rally up to levels of 8410. On the other hand, if it sustains below level of 8300, expect correction up to levels of 8230 and 8200 in the short term.  The daily RSI has seen a sharp decline after registering lower high around 64 odd levels and now approaching toward level of 40.

Aurobindo Pharmaceuticals: Aurobindo Pharma received final approval from the US Food and Drug Administration (FDA) to start selling its 10mg and 10mlversions of cardiac and hypertension drug esmolol hydrochloride injection, respectively in the US.

Axis Bank: Axis Bank singed a USD 200 million, seven year bilateral loan agreement with the Asian Development Bank. The loan will help strengthen bank’s efforts to improve farm efficiency by extending customised and affordable agriculture credit that will help leverage its semi-urban and rural branch network to deliver agriculture credit.

Tata Motors: Home grown Auto major Tata Motors is developing a new platform for small commercial vehicles to tighten grip in the segment with its runaway success Ace mini truck celebrates a decade of market leadership.

HDFC and Maruti: It will be a results heavy day. The two index heavyweights one from Auto Maruti and one from banking HDFC are set to announce its quarterly numbers.