Index trend and stocks in action September 21, 2016
Chirag Gothi / 21 Sep 2016
On the daily chart Nifty has formed a ‘Bearish Belt Hold’ like candlestick pattern. This pattern consists of two candles, Day 1 is bullish candle but it is followed on Day 2 by a bearish candlestick. Now going forward the level of 8750 will act as an immediate support level for the Nifty.
Indian benchmark indices started off the session on a cautious note and thereafter traded in a tight range throughout the session with a negative bias. On the daily chart Nifty has formed a ‘Bearish Belt Hold’ like candlestick pattern. This pattern consists of two candles, Day 1 is bullish candle but it is followed on Day 2 by a bearish candlestick. Now going forward the level of 8750 will act as an immediate support level for the Nifty. Decisive breach of this support level will open gates for correction up to levels of 8680. On the upside, the zone of 8830-8860 will act as a stiff resistance for the Nifty.
IRB Infrastructure: IRB Infrastructure Developers said it has bagged a DBFOT (design, build, finance, operate and transfer) road project for six-laning of a 125 km long Kishangarh-Udaipur-Ahmedabad section in Rajasthan.
Wonderla Holidays: Wonderla Holidays plans to build an amusement park in Andhra Pradesh, and is also looking to expand the resort business to meet increasing demand, a top company official informed.
TeamLease Services: Staffing firm TeamLease Services announced signing of a definitive agreement to acquire NichePro Technologies (NichePro) for an enterprise value of about Rs 29.5 crore.
Capital First: Capital First will raise Rs 100 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
Sharon Bio-Medicine: Sharon Bio-Medicine has received approval from the US health regulator for its API plant at Taloja in Maharashtra.
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