Index trend and stocks in action April 13, 2017

On Wednesday, Nifty opened the session on a flattish note, and thereafter, it slipped into negative terrain, while in the afternoon session the Nifty made an attempt to show recovery from lower levels, finally closing with marginal losses. The Nifty respected the rising trend line support which was formed by joining low of 8713-8904-9025. Additionally, the index respected the 13-day EMA on a closing basis, however, it dipped below the 13-day EMA on an intraday basis, but it bounced back to close above 9200 level. Now going forward, the zone of 9220-9245 is likely to act as a stiff resistance for the Nifty. On the downside, the level of 9150-9160 is likely to act as a strong support for Nifty.
 
Jubilant Life Sciences: Board of directors of Jubilant Pharma Ltd., a wholly-owned subsidiary of the Company, have approved a potential acquisition of a cancer and body imaging company based in the U.S.

GTL Infrastructure: To hold meeting today to consider allotment of equity shares upon conversion of debt, under the SDR scheme.

Cipla: Wholly-owned subsidiary, Cipla Medpro South Africa, completes acquisition of Anmarate (pty) Ltd.

Infosys: IT major, will report its earnings today.