Index trend and stocks in action January 06, 2017
Chirag Gothi / 06 Jan 2017
Today’s session will be a crucial session for the Nifty, and if Nifty continues the up-move its likely to test levels of 8330, which is 61.8 per cent retracement of down move from the high of 8598.45 to low of 7893.80. If the Nifty fails to cross this previous swing high zone, then this rally could be termed as a relief rally and then the Nifty is likely to head towards the level of 8140.
On Thursday, the Nifty index opened with an upside gap and shifted into a gradual up move, which lasted for the entire session. The Nifty settled the session with gains of over 1 per cent. Nifty has filled the opening downside gap which was formed as on December 12, 2016. At present, the Nifty is hovering around its previous swing high, which was registered around levels of 8274.95 as on December 9, 2016. Today’s session will be a crucial session for the Nifty, and if Nifty continues the up-move its likely to test levels of 8330, which is 61.8 per cent retracement of down move from the high of 8598.45 to low of 7893.80. If the Nifty fails to cross this previous swing high zone, then this rally could be termed as a relief rally and then the Nifty is likely to head towards the level of 8140.
HDFC: The mortgage lender will consider raising funds upto 35,000 crore via non-convertible debentures (NCDs) on January 30.
Credit Analysis and Research: CARE has intimated the bourses about the closure of its Maldives branch office.
Mastek: U.S unit of Mastek has acquired TAISTech for an undisclosed amount.
Birla Corp: The company seeks board members' nod for renewal of NCDs' issuance.
Piramal Enterprises: The Company’s subsidiary Piramal Finance to make application to National Housing Bank for incorporating a housing finance company as its subsidiary.
Sagar Cements: The company has reported a 5.47 per cent decline in cement production for December at 1,00,929 bags.
Wockhardt: German regulator has issued European Union Goods Manufacturing Practice Certificate to the company’s Ankaleshwar facility in Gujarat.
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