Index trend and stocks in action January 25, 2017

On Tuesday, the Nifty opened the session on a positive note, and shifted into a gradual upmove for the better part of the session. The momentum picked up in the later half of the session, and the Nifty ended the session with gains of 1 per cent. On the daily chart of Nifty there has been formation of a longrange bull candle, and this long range bull candle has pierced the strong resistance of 8460. Nifty now has entered the opening downside gap zone of November 11, 2016, and this gap will be filled completely around levels of 8510. Hence, going forward the zone of 8510-8520 is likely to act as a resistance for the Nifty.  On the downside, the zone of 8420-8440 is likely to act as a support for the Nifty. Today being expiry of January Future and Options series, we expect some volatility in the market.

Bharti Airtel: Bharti Airtel registered its lowest bottom-line figures in four years. Consolidated net profit declined nearly 55 per cent to Rs 503.7 crore for October-December as against Rs 1,108.1 crore in the same period a year ago.

Biocon: Biocon reported a 64.55 per cent rise in its consolidated net profit to Rs 171.3 crore for the third quarter ended December 31, 2016, led by robust growth of biologics business. It has posted a net profit after taxes, minority interest and share of profit from associates amounting to Rs 104.1 crore for the corresponding period of the previous fiscal.

Bharat Financial Inclusion: The company said its net profit has risen by nearly 80 per cent to Rs 143 crore in the third quarter of 2016-17 financial year. The net profit in the corresponding October-December quarter of 2015-16 stood at Rs 79.50 crore.

Kotak Mahindra Bank: Kotak Mahindra Bank will be announcing its financial result for the quarter ended December 31, 2016.

Maruti Suzuki India: Maruti Suzuki will be announcing its financial result for the quarter ended December 31, 2016.