Index trend and stocks in action April 19, 2017

On Tuesday, Nifty started off the session on a positive note and thereafter it extended the gains and tested high of 9218. However, in the second half intense selling pressure emerged which dragged market below the neutral line and Nifty ended the session with losses of 0.37 per cent. On the daily chart Nifty has formed a negative candle with long upper shadow, which indicates selling pressure at the higher levels. Nifty slipped below its important short term moving average i.e. 21-day EMA on closing basis. Now going forward, next important support is placed in the region of 9050-9060. Whereas, on the upside immediate resistance is placed around levels of 9165.

ZEEL: ZEEL has completed the acquisition of 80 per cent equity stake in Margo and consequently Margo has become a subsidiary of the company. 

Yes Bank and IndusInd Bank: Private lenders Yes Bank and IndusInd Bank are slated to report their earnings today. 

NBCC: NBCC has signed Memorandum of Business Exploration (MOBE) with BOLIX SA, Poland for Joint Cooperation to promote External Thermal Insulation and Composite System (ETICS) for construction of energy efficient and environment friendly Green Buildings.

Tata Steel: Meeting of the Board of Directors of the company will be held on April 20,2017, inter-alia to consider a proposal for fund raising. 

Reliance Capital: Company to issue NCDs worth Rs 1,500 crore.