Index trend and stocks in action March 08, 2017

On Tuesday, the Nifty opened the session on a flat note and soon after opening it slipped into negative territory. However, it remained in a narrow range for the entire trading session. In the last 7-8 trading sessions, the Nifty is stuck in the range of 8860 to 8893. On the daily chart, a small negative candle has been formed near the zone of 8970-8980, which is indicating a supply zone at the highs. Now going forward, immediate support for Nifty is placed around levels of 8920, and if this support is breached, the next important support is placed around levels of 8860. On the upside, the zone of 8970-9000 is a stiff resistance level, and if Nifty manages to close above levels of 9000, it's likely to open up for higher levels up to level of 9100.

Hero MotoCorp: Board declares interim dividend of Rs 55 per equity share of Rs 2 each for financial year 2016-17.

Dilip Buildcon: Acquires 100 per cent equity shares of M/s Bhavya Infra and Systems Pvt. Ltd., which now becomes the wholly-owned subsidiary of the company.

Wockhardt: Drug firm, Wockhardt said the Health Products Regulatory Authority of Ireland has given a nod for the renewal of certificate for its Aurangabad facility.

Tata Steel: Tata Steel UK said it will close the British Steel Pension Scheme to future accrual from March 31, and employees will get a new contributory scheme for their retirement saving thereafter.