Index trend and stocks in action May 11, 2017

On Wednesday, Nifty opened the session on a positive note and it gained momentum during the first half of the day's trading session. However, in the afternoon session, it consolidated in a tight range and showed further upmove towards the end. On the daily chart, Nifty has formed a long bull candle, which has managed to close above the trading range of 9270-9377. Now going forward the zone of 9350-9360 is likely to act as an immediate support level for the Nifty, whereas if Nifty slips below this support level next support comes in at levels of 9300. On the upside, the levels of 9450-9480 are likely to act as a resistance level. 

Vakrangee: Vakrangee announces an alliance with First Flight couriers through its wholly owned subsidiary Vakrangee Logistics Pvt. Ltd.

Quess Corp: The company hereby inform that at the proposed meeting of the Board of Directors of the Company (the "Board") scheduled to be held on May 16, 2017, the Board will consider and approve fund raising by way of rights issue and/or a public issue (including but not limited to issuance of Equity Shares through an institutional placement programmer under Chapter VIII-A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI ICDR Regulations") of equity shares in one or more tranches as permitted under the SEBI ICDR Regulations and any other applicable laws.  

Orient Green Power Company: Padmashri Dr DY Patil Sahakari Sakhar Karkhana Ltd. exercised its right to purchase the shares of Orient Green Power (Maharashtra) Ltd. and another MoU has been signed for the sale of the 20-megawatt cogeneration power plant.