Index trend and stocks in action December 14, 2016

On Tuesday, Nifty opened on a flattish note and moved in a narrow range for the most part of the trading session. However, some action was seen in the second half and Nifty settled with decent gains of around 51 points. On the daily chart Nifty formed a small body candlestick with long lower shadow, which is indicating occurrence of buying at the lower levels. Nifty has managed to hold on to its support levels of 8120-8150. As long as this support level is intact the buy on dips would be an appropriate strategy. However, a decisive move below this zone is likely to open up for correction up to levels of 8080. On the upside, the zone of 8230-8260 is a stiff resistance zone.

NTPC: State-run NTPC said it will raise Rs 3,925 crore through issuance of debentures on a private placement basis to meet its funding requirement.

Thomas Cook: Travel Services provider, Thomas Cook India said its board has approved raising up to Rs 300 crore through a private placement of non-convertible debentures.

Coal India: State-owned Coal India reported a massive 77 per cent fall in its consolidated net profit at Rs 600 crore for the quarter ended September, hit by drop in sales and higher expenses. The PSU major had posted a consolidated net profit after deduction of tax, minority interest and profit of associates, amounting to Rs 2653 crore in the July-September period of the previous fiscal.

Inox Wind: Marking its foray into wind power generation, state-owned NTPC has partnered with Inox Wind for a 50-MW wind project to be deployed in Gujarat.

Jindal Steel and Power: Jindal Power, a subsidiary of JSPL, successfully obtains commercial date of operation for the fourth unit of Tamnar power plant.

Bajaj Electricals: Bajaj Electricals enters into a strategic alliance with U.K based firm ‘Gooee’ in creating innovative lighting products and solutions on the IoT platform.