Index trend and stocks in action January 05, 2017

On Wednesday, the Nifty opened on a positive note, and thereafter, the index moved in a narrow range of 20-30 points for the entire session. At the end, Nifty settled at a minor loss of 0.02 per cent.  Nifty continues to face resistance around the zone of 8220-8240 levels. A strong move on the upside is only expected if the Nifty sustains above levels of 8240, and in this case it’s likely to test levels of 8280-8300. On the downside, the key level to watch out for is 8130-8140, and if the Nifty sustains below this support zone it's likely to test levels of 8070. At present, the trend continues to be sideways, a positive move is expected only if the Nifty sustains above level of 8220-8240.

Tata Elxsi: Tata Group’s product design arm, Tata Elxsi has inked a pact with Netherlands-headquartered Irdeto to provide secure In-car Display systems for automobiles.

DHFL: Mortgage firm, DHFL has reduced its home loan lending rates by 0.5 per cent in line with competitors.

MCX: MCX has got SEBI’s approval for launch of castor seed contracts. The exchange will launch the contracts today.

Petron Engineering: The company has informed exchanges that it has received a Letter of Intent from Shree Cements for civil work of plant building & silos and misc. work at their Orissa Grinding Project for contract value of Rs 33 crore.