Index trend and stocks in action March 17, 2017

On Thursday, Nifty opened the session with a gap up and shifted into a sideways range for the better part of the trading session. However, buying interest was seen in the second half of the trading session, and the Nifty ended the session at almost day’s high. After back to back doji formation, Nifty on daily chart formed a bullish candle. In the past three trading sessions, the Nifty has witnessed two opening upside gaps and both the gaps are unfilled as of now. Now going forward, the levels of 9200-9240 are likely to act as a resistance. On the downside, the level of 9120 is likely to act as an immediate support level, and breach of this support may invite further correction upto levels of 9075.

Lupin: Pharma major, Lupin, said it has launched Mibelas 24 Fe, used for pregnancy prevention, in the US market.

Reliance Infrastructure: The board of the company has approved raising of funds by issue of securities through qualified institutional placement (QIP) to qualified institutional buyers for an aggregate sum not exceeding Rs 2000 crore.

Bharti Airtel: Shareholders approve issue of NCDs worth Rs 10,000 crore.

MRF: Company gets shareholders' nod to raise Rs 500 crore via NCDs.

Nocil: The company informed bourses that the board of directors have approved expansion of capacities of rubber chemicals and their intermediates at the company’s plant situated at Navi Mumbai and Dahej. The total expenditure predicted is around 170 crore