Index Trend And Stocks In Action January 27, 2016
Chirag Gothi / 27 Jan 2016
The Indian Markets extended gains for the second successive trading session; a pullback in the crude oil prices lifted the sentiments. However, in the second half profit taking was evident and index ended with marginal gains. On the daily chart a small body of a red candlestick has been formed around the resistance zone of 7470-7490.
The Indian Markets extended gains for the second successive trading session; a pullback in the crude oil prices lifted the sentiments. However, in the second half profit taking was evident and index ended with marginal gains. On the daily chart a small body of a red candlestick has been formed around the resistance zone of 7470-7490, inferring a momentary halt in the upside momentum. Now going forward immediate support for the index is placed around levels of 7400; and breach of this support zone will open gates for correction upto levels of 7330. On the upside 7490-7500 region will act as a strong major hurdle, and as long as the index trades below this level any rally may be considered as a pullback.
SPARC: Drug discovery firm Sun Pharma Advanced Research Company (SPARC) has received market regulator SEBI’s approval to raise up to Rs 250 crore through a rights issue.
Reliance Power: ADAG led Reliance power is looking to exit the stalled 4,000 megawatt Krishnapatnam power project. Reliance Power has written to the Andhra Pradesh government suggesting that it could be done on similar lines to that of Tilaiya UMPP (Ultra Mega Power Project), which was acquired by procurers from the company.
Tata Power: Tata Power has called off the acquisition of Ideal Energy Project’s 270 MW power unit in Maharashtra citing non-fulfillment of the conditions.
Apollo Hospital: The Board of Directors of Apollo Energy Company, an Apollo Hospital Group company, at a meeting has approved the divestment of 23.3 per cent shareholding in Apollo Munich Health Insurance Company.
HCL Technologies: HCL Tech has been sued by two Walt Disney world technology workers in Orlando, for allegedly conspiring to replace them with less costly foreign employees using H-1B visas. The company reiterated that they follow all prescribed norms for employing people on these visas, but refused to comment on the on-going litigation.
HDFC: The stock is likely to be in action today as it is set to announce its quarterly results today.
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