Index trend and stocks in action February 22, 2017

On Tuesday, Nifty opened the session with marginal gains and thereafter it shifted into choppy trend with weak bias for the better part of the session. However, buying emerged in the later part of the trading session and Nifty ended the session near day’s high. Nifty on the daily chart, is continuing with its higher top and higher bottom pattern and has registered a fresh higher high. Nifty now is approaching towards its major resistance level of 8950-8970. On the downside, immediate support is placed around levels of 8880 and major support is placed around levels of 8820. The underlying trend of Nifty continues to be in favour of bulls, but it is now approaching towards its crucial resistance area of 8950-8970.

Coal India: Board to consider interim dividend for FY17 on March 6, 2017.

Apollo Hospitals: Board to consider redeemable NCD's issue worth Rs 200 crore to institutional investors, banks and financial institutions.

Bharat Electronics: The government will sell equity shares in Bharat Electronics via offer for sale at a floor price of Rs 1,498 per share.

Castrol India: The company reported a 10.7 per cent rise in net profit at Rs 155.8 crore for quarter ended December 31 against Rs 140.80 crore in the corresponding quarter last year.

Dr. Reddy’s Laboratories: Drug firm, Dr. Reddy’s Laboratories said the US health regulator has made three observations after completing inspection of its Miryalaguda facility.