Index trend and stocks in action February 13, 2017
Chirag Gothi / 13 Feb 2017
A decisive move above the level of 8820-8825 may open gates for levels of 8900-8950 in the near term. On the downside, immediate support is placed around levels of 8710, a move below this support zone is likely to open gates for downside upto levels of 8650.
On Friday, the Nifty traded in a tight range and ended the session with minor gains of around 15 points. On the weekly time frame it formed a Doji like candlestick pattern around the key resistance area of 8820, which indicates indecision amongst the market participants at higher levels. The level of 8820-8825 is acting as a strong hurdle for the Nifty. A decisive move above the level of 8820-8825 may open gates for levels of 8900-8950 in the near term. On the downside, immediate support is placed around levels of 8710, a move below this support zone is likely to open gates for downside upto levels of 8650. Daily 14 period RSI has turned flat around 72-73 levels, which is suggesting a pause in the upside momentum.
Hindustan Motors: The Company has Executed an agreement with Peugeot S.A. for the sale of the Ambassador brand and certain related rights for a consideration of Rs 80 crore.
Shriram Transport Finance: Approves further issuance of senior secured notes, due in 2020, payable in U.S. dollars amounting to Rs 200 crore with a coupon of 8.25 per cent per annum.
Apollo Hospitals: India’s leading super specialty hospital, Apollo Hospital to hold meeting on February 14, 2017 to consider issue of debentures worth Rs 200 crore.
Supreme Infrastructure: Board of directors approve further issuance of securities not exceeding Rs 250 crore.
Kaveri Seeds: Macquarie Emerging Markets Asian Trading Pte. Ltd., has bought 1.92 million shares for Rs 475.2 per share.
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