Index trend and stocks in action April 27, 2017
Chirag Gothi / 27 Apr 2017
Now going forward, the zone of 9370-9410 is likely to act as a resistance level for the Nifty, and on the downside, the level of 9260-9270 is likely to offer support to the Nifty. Stocks in action for the day are Reliance Industries, Somany Ceramics, Infosys, Cadila Healthcare.
On Wednesday, Nifty opened the session with an upside gap, and moved further up during the morning trade. However, during afternoon session profit booking emerged, and it filled the opening upside gap, thereafter showing a smart recovery to end the day near day’s high. Nifty index is forming higher high from last three trading sessions, and on Wednesday it touched level of 9367. Now going forward, the zone of 9370-9410 is likely to act as a resistance level for the Nifty, and on the downside, the level of 9260-9270 is likely to offer support to the Nifty.
Reliance Industries: Reliance Industries announced it has entered into an exclusive licence agreement with Resysta International GmbH. Agreement gives rights of production and marketing of RelWood, a natural fibre polymer composite in India. Compound to be the raw material to produce sheets and various profiles used in a wide range of wood and plywood replacement applications.
Infosys: Infosys launches Infosys Nia- The Next Generation Integrated Artificial Intelligence Platform.
Cadila Healthcare: Receives final approval from the USFDA for Cholestyramine for Oral Suspension USP.
Somany Ceramics: Begins production in a sanitaryware plant which will increase capacity to 11.5 lakh pieces per annum as against current figure of 3.03 lakh.
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