Index trend and stocks in action May 04, 2017

On Wednesday, Nifty started the session on a positive note and it started to show intraday weakness during the first half of the trading session. The movement was quite sluggish throughout the day with negative bias. By the end of the day, Nifty yet again manage to hold on to there levels of 9300 on its closing basis. On the daily chart, we have observed formation of side by side negative candle pattern for the second consecutive session, which indicates sideways movements of the index. Nifty has been facing supply near to the level of 9350 and buying interest emerged around the levels of 9270-9280. Hence, this range will be closely monitored by trades as decisive breach on either side of the range may provide a trending move. For the day important support for Nifty is in the range of 9270 and on the upside resistance is placed around level of 9350-9360.

Time Technoplast: Launches MOX film under the brand ‘Techpaulin’. 

BPL: BPL will now sell its complete portfolio of televisions and appliances exclusively on Amazon.in. 

Capital First: Raised Rs 290 crore via issue of NCDs on private placement basis

Suzlon Energy: The Board of Directors of the Company has approved allotment of 1,36,34,377 equity shares to FCCB holders.

Seshasayee Paper & Boards: Restriction on Drawal of Water from River Thamirabarani for UNIT : TIRUNELVELI. District Collector, Tirunelveli has now permitted drawal of 50 per cent of the original sanctioned quantity of water for industrial use until further advice. The shortfall in water availability will be met through ground water resources. This will enable the Unit to maintain full production.