Index trend and stocks in action January 13, 2017

On Thursday, the Nifty opened on a slight positive note, and shifted into a sideways range for the entire trading session. Nifty ended the session with modest gains of 0.32 per cent, above the 8400 mark.  Nifty formed a small bullish candle as against long range bull candle in the previous trading session i.e. January 11, 2016. This is a breather pattern after a sharp up-move. Now going forward, the zone of 8450-8475 is a strong resistance zone for the Nifty. On the downside, the zone of 8330-8340 is likely to act as a strong support for the Nifty. Daily 14 period RSI has managed to close above levels of 60, which is suggestive of some strength in the trend.

Tata Group companies: N Chandrasekaran appointed as the chairman of Tata Sons.

Mahindra Lifespace Developers: Mahindra group’s realty firm, Mahindra Lifespace Developers has announced its foray in Gujarat and will develop a 350-acre industrial park near Ahmedabad that could entail an investment of Rs 3,000 crore from the company and the other units to be established.

Hathway Cable: Company withdraws plan to de-merge its broadband business.

Bharti Airtel: Airtel Payments Bank, the first of its kind in India, officially launched services, promising customers a 7.25 per cent interest on deposits as an introductory offer.

Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 271.73 crore to one of the largest public sector banks on a direct assignment basis as per the guidelines issued by the Reserve Bank of India.

Electrosteel Castings: Company gets Mines Ministry's approval for Jharkhand lease.

Vivimed Labs: Company is seeking shareholders' approval to raise capital up to Rs 500 crore.

Infosys: Infosys will announce its financial result for quarter ended December 31, 2016.