Index trend and stocks in action February 20, 2017

On Friday, the Nifty opened the session with an upside gap of around 105 points. After the sharp opening, the Nifty was not able to sustain at the higher levels and slipped into intraday correction, closing with gains of around half a per cent.  Nifty on the weekly time frame chart has formed a ‘Doji’ candlestick pattern. Now going forward, key resistance for the Nifty is placed around levels of 8900. On the lower end, the level of 8700 is a crucial support level for the Nifty, and if it dips below this support level on a closing basis, it's likely to open for correction upto levels of 8630.

Havells India and Lloyd Electric: Lighting and electrical appliances company, Havells India has agreed to buy the consumer durables business of Lloyd Electrical and Engineering Ltd., run by the B.R. Punj Group.

BPCL: To raise Rs 2,000 crore in current financial year through private placement of secured NCDs.

Karur Vysya Bank: Reliance Small Cap Fund and Reliance Growth Fund have bought 11.3 million shares at Rs 91.5 per share.

TCS: The board of directors of TCS will meet to consider a proposal for buyback of equity shares of the company.

Mangalam Drugs and Organics: The company informed bourses that its facility at Unit-2 was recently audited by WHO-Geneva and they have been issued few procedural observations.