Index trend and stocks in action April 11, 2017

On Monday, Nifty started off the session on a positive note, and it faced resistance around levels of 9225, slipping into negative territory, consolidating in a range, however, selling pressure intensified in the mid-afternoon session and Nifty ended the day near day’s low. Nifty now has immediate support place around region of 9160-65 as the 13-day EMA is placed near about these levels. If Nifty slips below this support zone, it's likely to slide up to levels of 9130-9100. On the upside, the zone of 9200-9240 is likely to act as a hurdle. The daily 14-period RSI is hovering close to levels of 60 and in the past 2-3 months RSI has turned from levels of 57. Hence, the level of 57 is crucial on RSI. 

Dredging Corp: Dredging Corp informed the Stock Exchanges as per the Regulation 30 of SEBI LODR Regulations that the Unions representing the Non-Executives and Crew & Petty Officers of Dredging Corporation of India Limited have given call for one day strike on April 11, 2017 in protest against rumours of strategic sale of DCI. The Unions have been requested by the management to withdraw the strike.

JK Paper: To consider issue of equity shares consequent to conversion of foreign currency convertible bonds of 2.4 million euros on April 12, 2017.

Archies: Equity Intelligence India buys 1.2 per cent stake at Rs 29.15 per share.

Sagar Cements: Total consolidated sales for March 2017 grew 18.3 percent to 2,83.785 million tonnes.

Indian Hume Pipe Company: Wins order worth Rs 109.64 crore from the Public Health Engineering Department of the Government of Rajasthan.

Hindustan Composites: The board of directors of the company at their meeting held on April 10, 2017 considered the following matters: the stock split in the ratio of 1:2; and issue of bonus shares in proportion of 1:2.