Index trend and stocks in action March 02, 2017

On Wednesday, the Nifty opened the session with an upside gap, and maintained its early gains throughout the session, eventually ending the session with gains of 0.75 per cent. In the last three sessions there was some correction witnessed in the market from a higher level. However, on the daily chart, the Nifty has formed a long range bull candle, which has erased most of the losses of the past three trading sessions. Now going forward, the levels of 8980-9000 will act as a stiff resistance, as this zone has multiple hurdles, and a move above this zone is likely to open up for an upside momentum upto levels of 9120. On the downside, the zone of 8860 is a key support level in the short term.   


NTPC: State-run power giant, NTPC, has kicked off the process to expand operations at its Pakri Barwadih coal mine in Jharkhand, designed to achieve annual mining capacity of 18 million tonnes.

Zydus Wellness: The company informed bourses that it has approved an interim dividend of Rs 6.5 per share.

TVS Motors: Chennai-based automobile manufacturer, TVS Motors posted sale of 211,470 units in the month of February 2017 as against 219,467 units recorded in the month of February 2016.

Tata Motors: Tata Motors reported 1.93 per cent increase in total sales in February at 47,573 units, compared to 46,674 in the same month last year.  

Wockhardt: Wockhardt’s US business has suffered another setback, with the US drug regulator issuing a warning letter to the company’s Morton Grove manufacturing plant in that country.