Index trend and stocks in action March 06, 2017

On Friday, Nifty opened the session on a negative note, and it consolidated for the better part of the session. Buying interest emerged in the second half of the trading session, and the Nifty almost closed near the day’s high. The bearish engulfing candlestick pattern formed as on March 2, 2017 did not display follow-through weakness on Friday. On the contrary a small positive candle with lower wick has been formed, which suggests buying interest around crucial support area of 8860. Now going forward, key support is placed around levels of 8860, and next support is placed around 8800. On the upside, immediate resistance is placed at 8925, and above this next resistance is likely to come in around levels of 8970.

HDFC: The company's board of directors have approved an interim dividend of Rs 3 per share.

Shree Cement: The company won a linkage in the state of Chhattisgarh with an allocated quantity of 60,000 tonne per annum at Rs 970 per tonne.

Maruti Suzuki: India's largest car maker launched the Baleno RS, marking its entry into the high performance segment. The car's starting price has been fixed at Rs 8.69 lakh ex-showroom, Delhi.

Coal India: Another subsidiary of the world’s largest coal producer, Central Coalfields, has bought back 5,21,000 equity shares at Rs 19,230 per share. The total amount of the buy back sums up to Rs 1,001.9 crore.

Cipla: Pharma firm, Cipla said it plans to sell its animal health business in South Africa and Sub-Saharan Africa for a consideration of about Rs 191 crore.

Bharti Airtel: Telecom operator, Bharti Airtel said it has signed an agreement with Millicom International Cellular to combine their operations in Ghana.

State Bank of India: State Bank of India fixed March 17 as the record date of share swap for the merger of its 5 associate banks with itself.