Index trend and stocks in action February 15, 2017

On Tuesday, Nifty started the session with marginal gains, and slipped into an intraday decline in the early part of the trading session. Later on, it shifted into a narrow range and ended the day with marginal loss of 12 points. On the daily chart, Nifty formed yet another small negative candle with a minor lower wick. This candle does not have any predictive value as the formation of the candle is in a sideways trend. In the last 5 trading sessions selling has emerged as soon as Nifty approached around 8820-8825, and hence, this zone is a key hurdle for Nifty. A move above the zone of 8820-8830 may open up for an upside rally upto levels of 8890-8950. On the downside, the zone of 8710-8700 is likely to act as a strong support level.

HDFC: Mortgage major, HDFC, said it has established a medium-term note (MTN) programme to raise up to $750 million to enable the corporation to issue debt instruments in the international capital markets, subject to regulatory approvals.

Texmaco Rail And Engineering: The Company will be exploring organic and inorganic options for expanding its product portfolio and business.

MT Educare: Approves transfer of company's business undertaking 'Robomate' as a going concern to its wholly-owned subsidiary.

Zicom Electronic Security: Allots 2.1 crore shares of Rs 10 each on a preferential basis, pursuant to strategic debt restructuring, at a conversion price of Rs 43.05 per equity share to the JLF lenders.

Jain Irrigation:Forms sub-committee to deal with upcoming FCCB, ECB and other loan redemptions through refinancing and resource raising options.