Index trend and stocks in action November 25, 2016

Indian benchmark indices got off to a gap down opening, in tandem with cautious sentiments prevailing in Asian markets. Thereafter, the indices tried paring early losses and crawled back towards the neutral line. But indices could not succeed as selling pressure emerged at higher levels. In the end Nifty suffered losses of around 1 per cent to close below important psychological mark of 8000. On the daily chart Nifty formed three consecutive inside bars. Now going forward the lows of Mother Bar which was formed as on November 21, 2016, is key level to watch out. Hence, the zone of 7900-7916 is crucial support zone as it's 50 per cent retracement of entire up-move from lows of 6825 to high of 8968 and the low of Mother Bar stands at 7916. A decisive move below this zone may open gates for correction up to levels of 7840. On the upside, the zone of 8050-8060 may act as a resistance zone for Nifty.

 Crompton Greaves: Promoter Avantha Holdings pledged an additional 8 lakh shares with Aditya Birla Finance and STCI Finance for borrowings.

Talwalkar Better Value Fitness: Talwalkar to demerge its gym business into a new company named Talwalkar Lifestyles Ltd. Shareholders of Talwalkar Better Value Fitness (TBVF) will get one share of Talwalkar Lifestyles for existing one share of TBVF.

Sagar Cement: Sagar Cement's shareholders have approved fund raising of upto Rs 250 crore.

Advanced Enzyme Technologies: Advanced Enzyme Technologies has been awarded the best Nutraceutical Company of the year.

Ultratech Cement: Ultratech Cement has proposed to issue unsecured redeemable non-convertible debentures worth Rs 250 core for a tenure of five years at 6.93 per cent per annum.