INDIAN BENCHMARKS Reports 16-Oct-15

INDIAN BENCHMARKS  gain; post 3rd consecutive weekly gain

                                                                   

INDIAN EQUITY BENCHMARKS  recovered from mild falls to advance on Friday, posting their third consecutive weekly gain, as hopes for rising sales during the ongoing festive season lifted sectors such as auto makers, trumping earlier concerns about earnings. The S&P BSE Sensex and CNX Nifty ended 0.76% and 0.72% higher each.

Headlines for the day:

• Sintex NIIT Tech Q2 net profit down 29% (YoY)
• Edelweiss Financial Q2 consolidated net profit up 21% (YoY)
• V-guard Q2FY2016 result first cut: Bottomline grew 20%

The crucial resistance for Nifty is now seen at 8275 and above this 8315. Support for the immediate term is now placed at 8205 and next support will be 8175.