Index trend and stocks in action March 09, 2017
Chirag Gothi / 09 Mar 2017
On the daily chart, a candle has been formed with a long lower wick, which suggests buying interest at lower levels. Nifty is still playing in the range of 8860-8993, and is waiting for cues from the outcome of the state assembly election results of 5 states. For the day, the zone of 8860 offered a good support for Nifty, and on the upside, the zone of 8970-9000 is likely to act as a resistance zone.
On Wednesday, Nifty opened the session on a flattish note and remained within a range for the first couple of hours of trading. However, as the day progressed, sudden bout of profit booking emerged and dragged the index lower. At one point of time Nifty index was trading close to 8890-8900 mark,recovery was seen in the later part of the day and Nifty ended the session with nominal loss of 0.25 per cent. On the daily chart, a candle has been formed with a long lower wick, which suggests buying interest at lower levels. Nifty is still playing in the range of 8860-8993, and is waiting for cues from the outcome of the state assembly election results of 5 states. For the day, the zone of 8860 offered a good support for Nifty, and on the upside, the zone of 8970-9000 is likely to act as a resistance zone.
Omkar Speciality Chemicals: Promoters release 15.2 lakh pledged shares, representing 7.43 percent of the total capital.
Indiabulls Housing Finance: Allots secured, redeemable, Non-Convertible debentures worth Rs 495 crore on a private placement basis.
Dr. Reddy’s Labs: US FDA completes inspection of the formulation manufacturing facility in Duvvuda, Visakhapatnam. Issues Form 483 with 13 observations.
Shree Renuka Sugar: Approves allotment of 1.64 crore equity shares of face value Rs 1 each at a price of Rs 16.56 per equity share aggregating to Rs 27.21 crore to one of the JLF lenders, Standard Chartered Bank.
Welspun Enterprises: The Company said it has completed the sale of its 15.4 per cent stake in Welspun Energy for around Rs 286 crore.
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