Index trend and stocks in action January 17, 2017
Chirag Gothi / 17 Jan 2017
On the daily chart, the Nifty has formed a small body positive candle, which has managed to hold on to Friday’s trading session low of 8373. Now going forward, the zone of 8370 is likely to act as a strong support for the Nifty, and if it sustains below this level, it's likely to test levels of 8320-8330.
On Monday, the Nifty opened the session on a slight negative note and shifted into gradual up-move from the lower levels. However, the up-move remained restrictive and Nifty ended the session with minor gains of around 12 points at 8412.80. On the daily chart, the Nifty has formed a small body positive candle, which has managed to hold on to Friday’s trading session low of 8373. Now going forward, the zone of 8370 is likely to act as a strong support for the Nifty, and if it sustains below this level, it's likely to test levels of 8320-8330. On the upside, the zone of 8460-8520 is likely to act as a strong resistance zone which is also the opening downside gap of November 11, 2016.
Delta Corp: The gaming firm has acquired a licence for operating a casino in Gangtok, Sikkim.
Hindustan Petroleum Corp: Oil refiner has received shareholders' approval for issue of NCDs worth Rs 6,000 crore.
Crompton Greaves: Promoter Avantha Holdings has released pledge of 4 per cent of the total share capital. Total pledged holding is currently 23.56 per cent of the total share capital.
HCL Technologies: Company’s wholly-owned subsidiary, HCL America Inc., has made some clarification against claims and allegations made by CultureSphere Inc., a California-based company.
Shriram Transport Finance: Company has approved issue of rupee-denominated bonds worth Rs 175 crore.
TeamLease Services: Company to buy Keystone Business Solutions for Rs 8.2 crore.
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